Rockstar Games’ parent company is cutting 5% of its overall workforce despite a 53% spike in net revenue last year.
Take-Two Interactive, parent company and publisher of Rockstar Games’ Grand Theft Auto game series, is laying off staff as part of what it’s calling a “cost reduction program” to “enhance the Company’s margin profile while still investing for growth.” 5% of Take-Two employees will lose their jobs, which is roughly 600 people.
The layoffs were revealed in a public filing with the US Securities and Exchange Commission Tuesday, which also states that Take-Two expects to spend up to $200 million total to finalize the layoffs, including up to $140 million of which would be related to “title cancellations,” or cancelled projects.
