Big cut backs for Take Two workforce

Publisher could be planning epic lay-offs

Take Two are refusing to comment, but word in from MCV today has it that Take Two are on the brink of cutting some 20 percent of their workforce.

More than 400 jobs could be lost at the US publisher, with cuts also possible at Take Two owned studios, such as the UK"s Rockstar.

Take Two are apparently considering the cutbacks as part of a bid to make the firm more profitable.

Giant publisher EA tried to acquire Take Two in 2008, but a deal failed to materialise, much to the chagrin of several Take Two investors who felt the price was right. More as we get it.

Take Two have this afternoon moved to deny these mass lay-offs, a spokesperson telling us: "While it is our policy not to comment on rumors and speculation, we wanted to clarify an erroneous report regarding our Company. As part of Take-Two's stated goal to maximize the efficiency of our business, we initiated a targeted restructuring of our corporate departments only in order to better align our resources with our current goals. Some of these changes were associated with the pending sale of our Jack of All Games distribution business. To be clear, there were no reductions made at the studio level."

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