New York, New York-based Take-Two Interactive, a major publisher of video games such as ‘Grand Theft Auto,’ has announced a cost reduction initiative and a 5% reduction in its workforce.
The personnel realignment will impact approximately 600 employees.
According to the company's SEC filing...
On April 16, 2024, the Board of Directors of Take-Two Interactive Software approved a cost reduction program to identify efficiencies across its business and enhance the Company’s margin profile while still investing for growth. As part of these efforts, the Company is rationalizing its pipeline, eliminating several projects in development, and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs.
The Plan is expected to be largely complete by December 31, 2024, and will reduce the Company’s workforce by approximately 5%.
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