Take-Two Interactive has revealed that it is laying off several employees at its Private Division label and across other divisions.
This information was first published by Jason Schreier and confirmed by GamesIndustry. If you’re interested in the state of the video game industry, you can check out our other articles here.
Take-Two Interactive lays off Private Division employees and other divisions
Bloomberg’s Jason Schreier reported that Take-Two Interactive laid off several employees at its Private Division label and in other divisions of the company.
A company spokesperson confirmed the news to GamesIndustry, saying:
We can confirm that there has been a targeted reduction in our team in the United States, primarily in corporate operations and label publishing, which will better align our organization with our long-term priorities. We continue to make strategic investments in our talent and technology to realize our long-term plans, and the impact of these changes to our development team in the United States is minimal.
Outside the United States, we have initiated procedures in accordance with local laws that we expect may result in similar reductions. Take-Two has experienced exponential growth in recent years and we are taking the necessary steps to position the company for an even longer period of success.Take-Two Interactive
In February 2023, Take-Two Interactive had hinted at possible layoffs when its Q3 2022 revenue forecast was missed and announced a cost reduction program aimed at eliminating more than 50 million USD of annual expenses.