Gearbox Entertainment Announces Staff Reductions Following Acquisition

Following its recent acquisition by Take-Two, Gearbox Entertainment has confirmed that it will be implementing a round of layoffs. The company has stated that these redundancies are not directly related to the development of upcoming games, including the highly anticipated Borderlands 4. In a statement, Gearbox Entertainment noted that the Embracer Group's restructuring efforts, which impacted certain non-game development sectors of the company, have been completed. The specifics of the layoffs, including the number of employees affected, have not been disclosed. However, former PR manager Jennifer Locke has come forward on social media to reveal that she is among those impacted by the decision. The sale of Gearbox to Take-Two, worth $460 million, was announced last week as part of Embracer's broader restructuring program. This program, which began in June 2023, has resulted in the loss of over 1,400 jobs and the closure of three studios. Gearbox Entertainment was originally acquired by Embracer in 2021 for $1.3 billion. Under Take-Two's ownership, Gearbox will operate as part of the 2K label, with Randy Pitchford continuing to lead the company as its founder and CEO. The acquisition is expected to be finalized in June.