NBA 2K22 and Grand Theft Auto 5 by Take-Two Interactive Software Inc are seen for sale in a store in Manhattan, New York City, US, Feb 7, 2022.Take-Two Interactive Software will lay off about five per cent of its workforce, or around 600 employees, the publisher of the "Grand Theft Auto" franchise said on Tuesday , as the video-gaming industry extends its more than two-year long job cuts.
The move aligns Take-Two with Tencent-owned Riot Games, Electronic Arts and Japan's Sony Corp in trimming workforce this year due to uncertain spending from consumers after the pandemic-era boom. Cancelled projects will account for as much as US$140 million of the total charges, while severance and employee-related costs are expected to be up to US$35 million, it said. Take-Two will also reduce some office space as part of the move.
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