Take-Two Interactive, the parent company of R-Star, has announced plans to lay off about 5% of its workforce, or about 600 people, and the layoffs will lead to the cancellation of some unnamed game projects in development. Take-Two estimates that the layoffs will save it about $160 million a year, and the plan is expected to be substantially completed by December 31, 2024.
Take-Two CEO Strauss Zelnick had said earlier this year that the company intended to cut costs, but claimed at the time that "there are no plans to lay off employees at this time."
The total number of layoffs in 2024 has reached 8,800 so far so far, according to an estimate by Game Industry recruiting, a website that has been tracking layoffs in the gaming industry since last year.