"Take-Two Interactive Implements Layoffs and Project Cuts Following Gearbox Acquisition"

Take-Two Interactive, the company behind Grand Theft Auto, is implementing a 5 percent reduction in its workforce as part of a cost reduction program, following its recent acquisition of Gearbox Interactive. The company aims to streamline its organizational structure and eliminate several projects in development, incurring an estimated $160 million to $200 million in charges. Despite previous statements indicating no plans for layoffs, the workforce reduction could impact over 400 employees. Take-Two is also preparing for the launch of Grand Theft Auto VI in 2025 and continues to highlight the success of Grand Theft Auto V, which has surpassed 195 million lifetime sales.