GTA 6 Publisher Take-Two to Layoff 5% of its Workforce and Cancel Games

Take-Two Interactive has announced that it will lay off 5% of its workforce and cancel some of its games in an effort to increase profits.

[Knightofelemia]

I am curious as to what games got canned.

[DarXyde]

Probably GTAV: Enhanced for PS5 Pro 🙂

[Newmanator]

$1 Billion + for GTA Online. Need to increase profit!

[CrimsonWing69]

Agent

[just_looken]

They had a deal with netflix there were rumors of a bully remake and or port.

They also were deep into another version of gta iv like there crap gta trilogy remember all the takedowns.

[thorstein]

What a scummy thing to do.

[roadkillers]

It's a business tho..TakeTwo has 11,600 people, which means they let go around 600 people. There was probably a lot if bloat, but did anyone report about TakeTwo giving any "stimulus" to the employees laid off?

$35 million is being spent on severance pay. That's roughly $58,000 per employee, which probably includes continued benefits and pay after seperation. Can we get more of a report on how TakeTwo is supporting those let go?

[D0nkeyBoi]

That's a sweet severence

[roadkillers]

^ That's if the averages worked out. We don't know if its like that or if a big shot got $30 million while others got dirt...

That's why we need journalists to dig in instead of these shallow news reports.

[ConsoleAgnostic]

Severance is great but the problem is the industry is experiencing layoffs all over, which makes it very hard for a lot of these people to get back into a job. The issue is these companies are expecting higher revenue every year, and when they have a year where they make the same amount or a little bit less all hell breaks loose. The only silver lining I'm seeing here is that a lot of these people will go on to create smaller indie studios and hopefully create something.

[jwillj2k4]

There should be a law that says you can’t get rid of employees just for profits without executives taking a x % pay cut first. Encourage them to figure something else out.

[redknight80]

100% agree! I understand layoffs are a necessity sometimes but in addition to that, yeah, the CEO should not have their bonuses paid out that year; at the very minimum.

[jwillj2k4]

Anyone who disagrees hasn’t felt the turmoil of being laid off.

[Barlos]

Exactly, and I'm feeling this right now for the second time in less than 2 years. I lost my last job 3 weeks ago.

[jwillj2k4]

@Barlos

I feel for you. I can’t imagine what you’re going through. I hope you and your family can get through it and that you find another job quickly.

To give disagreer’s some perspective, getting laid off is worse than being fired imo. When I’m fired (if justified) it’s because I either don’t have the skills, drive or have done something against company policy. That is a closed case situation (most of the time).

When being laid off you could be the hardest working employee. They just don’t need you anymore. It’s a self-worth problem that is difficult to get over emotionally and mentally. The stakes are much higher when you’re the bread winner and have wife/children depending on you. It’s a do or die situation.

In 2015 was laid off once and found a new job 3 days later. It still affects me in my day to day not knowing if/when it will happen again.

[blacktiger]

They haven't even released the game, previous game made 10000% percent profits and then layoff?

[Relientk77]

Should be canceling the casino simulator sports games, but I know it's not them. It better not affect BioShock 4 and the Borderlands games

[Demetrius]

While the people get their mf pay checks increase smh I hope those people find a better company to work for, greed is at all time high folks act like they can keep the money and possessions with them when they take their last breath 🤦🏾

[rlow1]

The greed in gaming is at an all time high. It’s always blamed on sales, redundancy, efficiency, or the like. Even if they had a good year, feel bad for those loosing their jobs. But as much money as gta has pulled in. You really wonder if this is about getting bonuses. The more efficient (pushing more work on less people) and the more you can add to the profit forecast. Equals more investment and translates to bigger bonuses. I know the fat has to be trimmed some of the time. But the reasons are bogus, especially when your making good profits.