"Take-Two to Cut Staff and Projects Amid Restructuring"

Take-Two Interactive, the company behind Grand Theft Auto, NBA 2K, and Bioshock, is implementing cost-cutting measures that include laying off around five percent of its global workforce and scrapping several projects in development, aiming to save over $165 million per year. The downsizing efforts are expected to be completed by December 31st, 2024, and the company will incur charges of up to $200 million. This move comes as another blow to the gaming industry, which has seen numerous mass layoffs since 2023, and Take-Two is also in the process of acquiring Borderlands developer Gearbox.