On April 16, 2024, Take-Two Interactive announced it would cut approximately 5% of its global workforce (roughly 600 employees) and cancel several in-development game projects, in a restructuring the company estimated would cost $160-200 million (including $120-140 million in title cancellation charges and $25-35 million in severance), per its SEC 8-K filing. The cuts came roughly a year after Take-Two's leadership, including CEO Strauss Zelnick and COO Karl Slatoff, saw total compensation roughly double in fiscal 2023, with a substantial share of executive incentive pay tied to growing recurrent consumer spending (microtransactions) across titles like NBA 2K and Zynga mobile games. Grand Theft Auto VI development was described as largely unaffected by the cuts.
company
Take-Two Interactive
American video game holding company. Parent of Rockstar Games and 2K Games. Publisher of Grand Theft Auto, Red Dead Redemption, NBA 2K, and other major franchises. CEO Strauss Zelnick.
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Track Record
$160.0M