AssetID: 53652907
Headline: UNCAPTIONED: Take-Two Interactive laying off 5% of staff
Caption: Take-Two interactive laying off 5% of staff. PC Gamer report that Grand Theft Auto’s publisher has said they are making cuts to their workforce to rationalize it’s pipeline. The developer is also cancelling multiple existing projects. Take-Two have shared of the layoffs, that is has "approved a cost reduction program to identify efficiencies across its business and enhance the company’s margin profile, while still investing for growth.” In other words, they are laying off approximately 5% of staff and shutting down several games currently in development. The layoffs came to light via an SEC filing, although no exact figures have been revealed. It’s stated in the filing that Take-Two will cut down on $15 to $25 million in office space cost, suggesting that all the developers offices will close down as part of the ‘rationalization’. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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