Take-Two Interactive will lay off 5% of its employees and will cancel games

Take-Two Interactive, the company behind Grand Theft Auto, the Mafia series, and other 2K games announced it will lay off 5% of its workforce. On top of that, they will drop multiple projects and cancel games as part of a plan to save costs.

This is the latest major round of layoffs following similar actions by Microsoft, Electronic Arts, and other companies earlier this year. It was only a few weeks ago when Take-Two Interactive announced it would be acquiring the creators of the Borderlands series, Gearbox Entertainment for $460 million.

Take-Two plans to release Grand Theft Auto VI in early 2025, which is their biggest game coming out in the next year. GTA 6 has already entered its final stages of development and it is unknown if these new layoffs will impact the highly anticipated title.

When it comes to the Mafia series, Take-Two apparently began preparations a few days ago for an announcement regarding the iconic franchise. This comes from insider Kurakasis on X (Twitter) who has been reliable in the past.

Source: Bloomberg