A new report has confirmed that Take-Two Interactive will lay off sizeable portion of their total global workforce alongside expected cancelations of various projects.

The parent company of 2K, The Gearbox Entertainment Company, Private Division, and Rockstar Games announced (via Reuters) they’re laying off about 5% of their total workforce, or around 600 employees.

Alongside the layoffs is the news “several” in-development projects have been canceled as part of their cost reduction plan, which will save them up to $200 million in savings with at least $140 million from canceled projects and up to $35 million from staff layoffs. Take-Two is also reducing some office space.

Specifics on which in-development projects were canceled weren’t given – though this is likely due to the fact that these were probably unannounced games.