Overview

• Embracer Group sold Gearbox Software to Take-Two Interactive, with layoffs announced shortly after.
• Affected roles are not related to the development of upcoming Gearbox titles, including a new Borderlands game.
• Embracer's restructuring, aimed at cost reduction, led to the sale following a failed $2 billion deal with Savvy Games Group.
• Over 1,400 jobs lost and three studios closed as part of Embracer's restructuring program, which has now concluded.
• Gearbox to operate under Take-Two's 2K label, continuing with Randy Pitchford as CEO.