Take-Two lays off over 500 employees after previously having 'no plans' to do so

In addition, an unknown number of gaming projects have been shut down.

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It wasn't that long ago that Take-Two boss Strauss Zelnick stated that although they wanted to save money, there were "no plans" to lay off employees. However, this turned out not to be the case, because not only is Take-Two now in the process of laying off employees, they're also laying off a lot of people.

As IGN writes, Take-Two has announced that they plan to lay off 5% of their total number of employees, which amounts to 579 employees. Not only that, they're also shutting down an unknown number of projects in development.

We don't know which projects have been affected or how the layoffs are distributed, but we expect that messages from various developers will fill some of the void shortly. Take-Two has said that it is in the process of "streamlining its organisational structure".

This is part of the so-called "Cost Reduction Plan" that was initiated a year ago, and as mentioned, Zelnick has repeatedly stated that layoffs would not be part of the overall strategy.

"We haven't put any meat on the bones of that yet. I would just note that our biggest line item of expense is actually marketing. We do think we can optimize that. We also have third-party expenses, software, other vendors, supply services. And we always find opportunity there. The hardest thing to do is to lay off colleagues, and we have no current plans," he said at the time.

Take-Two lays off over 500 employees after previously having 'no plans' to do so

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