GTA 6 publisher Take-Two Interactive has announced it's laying off 5% of its workforce and canceling several projects.
Per Bloomberg, Take-Two revealed in an end-of-business SEC filing a plan to save itself more than $165 million annually due to "reductions in its existing expense base and lowered projected expense growth for the coming years." In the process, it'll incur up to $200 million in charges, the majority of which - up to $140 million - is related to the cancelation of projects, while another $25 million to $35 million is related to employee severance and related costs. Take-Two is also reducing its office space as part of the plan.
