Take-Two's Layoffs and Project Cancellations: A Closer Look

Take-Two announces layoffs of approximately 5% of its workforce, following a series of cost reduction plans and a recent acquisition of Gearbox. The company's financial struggles, including seven straight quarters of net losses, are attributed to economic challenges and underperforming games. The acquisition of Zynga is also seen as a factor in the company's downturn. Take-Two's shift towards mobile gaming is highlighted, with concerns raised about the lack of transparency in reporting mobile business metrics. The article also includes insights into other industry layoffs and business strategies.