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Take-Two confirm layoffs affecting Private Division, despite “exponential growth in recent years"The cuts are primarily impacting corporate and publishing efforts
The cuts are primarily impacting corporate and publishing efforts
Image credit:Private Division
Image credit:Private Division
Grand Theft Autopublisher Take-Two have confirmed layoffs at the company, primarily affecting their corporate and publishing efforts. The news originally spilled yesterday via aTweetfrom Bloomberg’s Jason Schreier, who claimed the cuts would impact Private Division - the publishing label behindThe Outer WorldsandKerbal Space Program 2- and other unnamed divisions. Take-Two later confirmed the news in a statement toPC Gamer, saying the layoffs would affect “corporate operations and label publishing.” Take-Two haven’t clarified the number of employees that have been laid off, but the cuts to development teams would be “minimal.”
Kerbal Space Program 2 Cinematic Announce TrailerWatch on YouTube
Kerbal Space Program 2 Cinematic Announce Trailer
Take-Two’s statement also confirmed that “similar reductions” are planned outside of the US, and that the publisher have “begun procedures in compliance with local law.” The company says the reductions are “necessary steps to position the company for another extended period of success,” despite their “exponential growth in recent years.”
Layoffs at the company were first hinted at in Take-Two’s third quarterfiscal reportlast year, where the publisher said they were “implementing a cost reduction program expected to yield over $50 million of annual savings.” This came after the publisher missed their own revenue forecasts and recorded net losses over the last three quarters.
The last few months have seen a barrel of layoffs in the games and tech industries. Microsoft recentlylaid off 10,000 employeeswhich impacted some of their dev teams, most notably affectingHalo studio 343iand a large portion of their campaign team. Riot Games alsolaid off 46 staff members, in what is now seen as a “normal course of our business.” And, just last week, EA let go of over200 Apex Legends testers.
