Take-Two Interactive to lay off 5% of staff and scrap several projects that are in development as part of a cost-reduction plan

[Gizmo_Duck]

I wonder what projects are cancelled?



https://www.reuters.com/technology/take-two-interactive-cut-5-its-workforce-2024-04-16/

April 16 (Reuters) - Take-Two Interactive Software (TTWO.O), opens new tab will lay off about 5% of its workforce, the publisher of the "Grand Theft Auto" franchise said on Tuesday, as the gaming industry extends its job cuts from the past two years into 2024.
The company said it would also scrap several projects that are in development as part of a cost-reduction plan, which is expected to lead to total charges of $160 million to $200 million.

The plan is expected to be largely complete by Dec. 31, 2024, it added.

 

[ORDER_66]

What was the projects???

 

[Legal]

Starting layoffs right after spending $460 million to buy Gearbox (who themselves laid people off right after) is absolutely nasty work.

 

[Pull Up the Roots]

Double executive pay. Buy out another company. Layoff 5% of your workforce.

 

[Drizzy Dre]

What was the projects???

Nothing that was gonna get released

 

[Gizmo_Duck]

Once they asked WFH people to come back to the office i knew they were just doing it to thin out the herd before they did actual layoffs

 

[Mook Sweatpants]

Starting layoffs right after spending $460 million to buy Gearbox (who themselves laid people off right after) is absolutely nasty work.

shyt is disgusting. But corporate worship culture ain’t being stopped no time soon

XbytchES probably celebrating































fakkits

 

[Jaguar93]

Bully……2

 

[Black Hans]

All that money Take Two is STILL making off of GTAV and NBA 2k and they have to do "layoffs"? Sounds like pocketing more of the revenue for stockholders

 

[Rekkapryde]

All that money Take Two is STILL making off of GTAV and NBA 2k and they have to do "layoffs"? Sounds like pocketing more of the revenue for stockholders

Of course

 

[ALonelyDad]

All that money Take Two is STILL making off of GTAV and NBA 2k and they have to do "layoffs"? Sounds like pocketing more of the revenue for stockholders

that's what it is for most companies

 

[Gizmo_Duck]

i feel like GTA 6 might be the last game from Rockstar I get in my gaming life

 

[Hood Critic]

Redundancies....happens after every acquisition.

 

[Gizmo_Duck]

Redundancies....happens after every acquisition.

Gearbox had separate layoffs

 

[Dirty Mcdrawz]

Acquisitions are good for the industry apparently