The renowned video game company Take-Two Interactive Software has recently filed about its planned layoffs within the company, with about five percent of its workforce.

However, the company will also cut budgets and development for games to save on future costs, raising questions about whether the upcoming Grand Theft Auto VI under Rockstar Games will be affected.

Take-Two Interactive Layoffs, Budget Cuts Coming Soon

Take-Two states, "As part of these efforts, the Company is rationalizing its pipeline, eliminating several projects in development, and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs." 

It centers on the board-approved cost reduction measures the company detailed in its filing.

[Take-Two] "will incur approximately $160 million to $200 million in total charges in connection with the Plan. The Company expects $40 million to $60 million of the total charges to result in future cash expenditures. The total charge consists of approximately $120 million to $140 million related to title cancellations, approximately $25 million to $35 million associated with employee severance and employee-related costs, and approximately $15 million to $25 million related to office space reductions." 

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Will GTA 6 be affected? Other Games Canceled

It was not revealed what titles will be affected by these cost-reduction efforts, particularly as certain games are set to be canceled soon. This also came after the recent acquisition by Take-Two of Gearbox, the developers behind Borderlands. 

Moreover, it is unknown if these plans will affect GTA VI's development, especially as its workforce will be reduced and the company will restructure in the coming months.

Take-Two Interactive Games

Take-Two Interactive is best known as a games publisher and for owning Rockstar Games, the developers behind two successful and popular gaming franchises: Grand Theft Auto and Red Dead Redemption. 

The company is also known for teasing the titles under Rockstar, with Take-Two's boss, Strauss Zelnick, not shutting down a possible future PC version of Red Dead Redemption. 

Moreover, Take-Two also partially teased before that Grand Theft Auto VI may be coming sooner than people expect, particularly as the company is expecting a surge in revenue for the 2025 fiscal year.

This suggested that there would be a massive drop from April 2024 to March 2025, and speculators claimed that they were referring to GTA VI's release during this window. 

The recent SEC filing of Take-Two revealed a lot about the company's future developments, particularly about the upcoming game and project cancelations as part of its cost-reduction efforts.

While layoffs would soon arrive for its employees, this also means restructuring certain projects, but it remains unknown if it will affect Rockstar's development for GTA VI and what the canceled titles are. 

Related Article: 'Grand Theft Auto' Publisher Slashes Projects, Lays Off 5% of Workforce