GTA Publisher Take-Two Announces Game Cancellations and Layoffs

GTA publisher Take-Two Interactive has announced that it'll be laying off 5% of its staff alongside canceling some games. This development comes weeks after CEO Strauss Zelnick said that the company has "no current plans" for redundancies.

GTA parent Take-Two set to lose around 600 employees

In a note submitted to the U.S. Securities and Exchange Commission, Take-Two said that it anticipates losing nearly 600 of its employees as part of a "cost reduction program" that'll also see the publisher cancel "several" game projects in the pipeline. Take-Two owns a number of studios including Rockstar Games and the recently-acquired Borderlands developer Gearbox. Rockstar's last main release was 2013's GTA V .

"The Company is rationalizing its pipeline and eliminating several projects in development and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs," Take-Two says . "The Company estimates that it will incur approximately $160 million to $200 million in total charges in connection with the [cost-cutting] Plan."

It's currently unclear how many of Take-Two's studios have been affected but we're likely to find out in due course as employees often take to social media in search of new opportunities.

Take-Two is the latest in an ever-growing list of game companies, including PlayStation , that are laying off employees en masse.

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