Take-Two to Lay Off 600, Shut Down Some Studios and Projects

TapTechNews June 1 news, in April this year, Take-Two announced that it will lay off 5%, about 600 people, and also cancelled several unannounced development projects, expecting to save $140 million (TapTechNews note: currently about 688.8 million Chinese yuan).

Subsequently, an internal document obtained by Bloomberg showed that Roll7 and Intercept will be one of the victims of this restructuring.

Now, a new report obtained by IGN claims that Take-Two's Intercept will close on June 28, and Roll7 will also be gradually closed, but there will still be a small team to handle follow-up matters. In addition, Take-Two also hopes to divest PrivateDivision by selling or closing.

IGN said that some employees of PrivateDivision were informed of impending layoffs as early as February this year, and then were informed by the management at the end of April that Take-Two would no longer support this brand, and then all employees will be dismissed.

It is said that PrivateDivision will retain a small team to continue to maintain its remaining projects that have been announced, including MoonStudios' 'Ouroboros', WētāWorkshop's 'The Lord of the Rings: Tales of the Shire', and an unnamed project of GameFreak. In addition, Take-Two also recently exited project deals with BlooberTeam and OneMoreLevel, the developer of 'Ghostrunner'.

Take-Two acquired Roll7 in November 2021. At that time, PrivateDivision said it would license the studio to continue to create its signature immersive gaming experience.