According to a new filing, Take-Two is set to layoff approximately 5% of its staff. The move would eliminate nearly 600 jobs and result in the cancellation of multiple in-development projects. This follows CEO Strauss Zelnick previously stating that the publisher had no plans for layoffs.
In the filing, Take-Two stated it expects to save between $160 and $200 million with project cancellations making up the bulk of the savings. Having recently acquired Gearbox Entertainment and Zynga in 2022, Zelnick had previously stated that the company was done “right-sizing” and that its plans were growth in the future. Many are pointing to Zynga as division most likely impacted by these layoffs given prior statements about struggling with the mobile market.
Should further details be shared, we will update accordingly.
