Take-Two Interactive laying off around 5 percent of its workforce, or approx. 579 workers

Take-Two Interactive announced today that it is laying off 5 percent of its workforce, or more than 500 employees, despite earlier claims that it had "no current plans" for additional layoffs. 

 In the filiing, Take-Two said it is "eliminating several projects in development and streamlining its organizational structure," which includes laying off workers. Take-Two said it expects to incur between $160 and $200 million in total charges, with $120 million to $140 million related to title cancellations.