Take-Two Interactive (T2) is cutting back on the development of several video games in a bid to save money, resulting in the layoff of 5 percent of its staff. The company hopes to save up to $200 million through this strategy, but specifics about the affected projects have not been disclosed. This move will impact 5 percent of T2’s 11,580 employees.
The importance of cost reduction in boosting profit margins has been emphasized by CEO Strauss Zelnick. This decision comes after other gaming companies have also experienced layoffs this year, including Unity Software, Riot Games, and Microsoft’s gaming division.
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