The wave of job cuts flooding the games industry doesn’t appear to be slowing down anytime soon, as this time around Grand Theft Auto publisher Take-Two Interactive has announced it’s laying off 5% of its workforce, or 600 employees in total.
The round of firings is part of a series of wider cost-cutting measures for the company, which has also cancelled an unspecified number of in-development game projects and reduced some office space. Take-Two projects that these moves will save $165M annually.
News of layoffs is always upsetting for industry watchers, but this announcement is particularly harsh considering Take-Two CEO Strauss Zelnick said in a February quarterly earnings call that the company had no current plans for layoffs; it would appear that the $460M buyout of Gearbox has changed his mind on that.
