‘Rockstar Games’ and ‘2k’ Parent Company To Cut 5% of Global Workforce
‘GTA 6’ maker Take-Two Interactive will also be canceling select games.
Take-Two Interactive, the holding company that owns Rockstar Games and 2k, has announced that it’ll be laying off 5% of its staff as part of a cost reduction plan.
The company submitted a filing with the US Securities and Exchange Commission, detailing a plan that would likely cost it between $160 million USD and $200 million USD. Between $40 million USD and $60 million USD was expected to go towards “future cash expenditures,” while $120 million USD to $140 million USD was anticipated to cost it from game cancellations. Additional tens of millions will stem from employee layoffs and severances, as well as the closure of office spaces.
As for the layoffs, Take-Two says its plan will be carried out to completion by December 31, so job cuts for the 5% affected – approximately 600 employees – will likely come in waves throughout the year. Prior to announcing the plan, Take-Two’s CEO and president both sold off a cumulative $13 million USD of their stock as part of a securities trading plan that allows company insiders to buy and sell stock without violating laws against insider trading.
Along with Rockstar and 2k, Take-Two also owns Private Division, Ghost Story Games and Zynga. Following EA, it’s among the largest public video game companies in the US.
The exact games being canceled and company departments impacted hasn’t been revealed. Take-Two underwent a round of job cuts in March 2023, largely affecting Private Division.
