Take-Two says the layoffs 'will better align our organization with our long-term priorities.'
Grand Theft Auto publisher Take-Two Interactive has confirmed a report of layoffs at the company, saying that it is letting employees go in order"to position the company for another extended period of success.", in which CEO Strauss Zelnick said the company was looking for $50 million in annual savings, in areas including"personnel, processes, infrastructure, and other areas, particularly in our publishing and corporate functions.
"We can confirm that there have been targeted reductions in our US teams, primarily in corporate operations and label publishing, which will better align our organization with our long-term priorities," Take-Two spokesperson 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.
"Outside of the US, we have begun procedures in compliance with local law that we anticipate may result in similar reductions. Take-Two has experienced exponential growth in recent years, and we are taking these necessary steps to position the company for another extended period of success." I'm not a financial expert but I've always found it baffling when statements like"we have experienced exponential growth in recent years" are immediately followed by,"therefore we need to fire a whole bunch of people." But it also confuses me when a company reports quarterly revenues of $1.4 billion, a 56% year-over-year increase, and describes it as disappointing. Big business is weird.
Private Division was founded by Take-Two in 2017 as a publishing label for smaller, more indie-focused games. It's had a number of successes in the years since, including
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