Take-Two Says Layoffs Necessary for 'Another Extended Period of Success' | Push Square
Take-Two, the publisher of Grand Theft Auto, Borderlands and many other well-known gaming franchises, has confirmed the reports of layoffs taking place at the company, stating that «we are taking these necessary steps to position the company for another extended period of success.» Take-Two reported $1.4 billion in revenue in its 2023 fiscal third quarter, a 56% increase year-over-year.
As reported by Bloomberg's Jason Schreier, layoffs began at Take-Two's Private Division, the publishing arm of games like Kerbal Space Program and OlliOlli World, and affected other unspecified parts of the company as well.
Take-Two acknowledged it had laid staff off and, in a statement provided to PC Gamer, said employees impacted were predominantly «targeted reductions in our US teams, primarily in corporate operations and label publishing.» A spokesperson for the company, Alan Lewis, said, «we continue to make strategic investments in our talent and technology to deliver our long-term pipeline, and the impact of these changes on our US development teams has been minimal.»
Lewis also states, «outside of the US, we have begun procedures in compliance with local law that we anticipate may result in similar reductions.» Take-Two is looking to save as much as $50m via this «cost reduction program».
Private Division was founded back in 2017 and focused on smaller indie titles, some of which went on to find widespread critical acclaim, such as the excellent roguelike Hades and ambitious sci-fi mind-bender The Outer Worlds.
Khayl is our roving reporter from down under, sniffing out all the best stories and bringing you the latest PlayStation news
Are they not satisfied with a 56% increase in revenue? I guess money is never enough
@StrawberryWa
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