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Take-Two laying off 550 people, weeks after saying it had "no current plans" to do so

Grand Theft Auto publisher Take-Two has announced it will lay off five percent of its workforce and cancel multiple in-development projects.

Grand Theft Auto publisher Take-Two has announced it will lay off five percent of its 11,000-strong workforce - equating to around 550 people - and cancel multiple in-development projects. In a new filing, Take-Two said it expects to incur between $160m and $200m in total charges as a result of this restructuring program, with $120m to $140m related to title cancellations. Watch on YouTube Today's news comes just weeks after Take-Two CEO Strauss Zelnick said the company had"no current plans" to lay off staff.

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