Connect with us


'Grand Theft Auto' publisher Take-Two Interactive lays off

'Grand Theft Auto' publisher Take-Two Interactive lays off


Video game publishing giant Take-Two Interactive will lay off about 600 people, or 5% of its workforce, and cancel several projects currently in development as part of a company-wide cost-cutting effort for Grand Theft Auto. .

Take-Two filed documents with the SEC on Tuesday regarding the layoffs, which it says are expected to be “substantially complete” by the end of 2024.

According to Take-Two's filing, “As part of these efforts, we will streamline our pipeline, eliminate several projects in development, and streamline our organizational structure, which will reduce our headcount and This will reduce future hiring needs.”

Take-Two's layoffs follow a wave of layoffs across the gaming industry, including layoffs at Sony's PlayStation, EA, Microsoft Gaming, Riot Games, and Epic Games.

Take-Two announced in February that it was undertaking a “significant” cost-cutting plan after mixed results for the October-December 2023 period. At the time, CEO Strauss Zelnick said, “At this time, we have no plans to reduce our workforce.''

“Our largest line item expense was marketing, so we have the opportunity to optimize a lot of expenses that don't involve people. Things like marketing and third-party expenses and vendor fees can still be optimized.” Zelnick told Variety. “We're a large company, so we've always prided ourselves on being the most efficient company in the entertainment industry.”

VIP+ Special Report: Current State of the Video Game Industry

Take-Two estimates that it will incur costs of $160 million to $200 million as a result of its cost reduction plans, of which $40 million to $60 million is expected to be a future cash expense.

Take-Two said the total bill was approximately $120 million to $140 million for canceled games, $25 million to $35 million for employee severance and related costs, and $25 million to $35 million related to reduced office space. It is said that the price will reach between 15 million and 25 million dollars.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]