United Kingdom, April 17 -- Take-Two Interactive will lay off five per cent of its staff by the end of 2024.

The company - which owns studios like 'Grand Theft Auto' developer Rockstar Games - announced on Tuesday (16.04.24) that it would be axing almost 600 jobs as part of cost-cutting measures.

In an SEC filing which was found by GamesIndustry.biz, the publisher wrote: "As part of these efforts, the company is rationalising its pipeline and eliminating several projects in development and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs."

Take-Two expects to incur between $160 million and $200 million in total charges due to this restructuring programme, with approximately $15 mi...