Take-Two to drop 20% of global workforce?

[UPDATE:Take-Two has since denied that development jobs are under threat, but has confirmed that a corporate restructure is in progress.]

Up to 400 Take-Two staff could end up being laid off by the publisher.

According to MCV sources the games giant has to make some tough decisions as it prepares a restructuring effort that would improve the company’s finances.

20 per cent of its 2,000-strong global workforce would face the axe under the plans.

MCV understands that cuts will be made across both its publishing and studio operations – and we have heard word that one or two staff at some divisions have already been made redundant.

Take-Two’s HQ is in New York, with its international base in Windsor, UK.

It has 14 studios, including six run by subsidiary Rockstar Games, based in the UK, USA, Australia and China. Take-Two also has three QA studios and sales and marketing teams dotted across North America, Europe and Australasia.

Take-Two has already pared down part of its business. At the close of 2009 the firm sold off its US distribution business Jack of All Games, raising $43.25 million, days after announcing its full year financials showed a net loss of $137.9 million, with revenues down 37 per cent to $968.5m.

In the meantime Take-Two shareholder American billionaire Carl Icahn has ramped his stake in the firm up to 12 per cent, and nominated new board members – the machinations have sparked speculation that he is attempting to steer the company towards a sell-off. Take-Two famously deflected an aggressive takeover by EA back in 2008.

The firm’s next big release is the long-awaited BioShock 2, which has a global launch set for next week on Tuesday, February 9th.

About MCV Staff

Check Also

[From the industry] World’s Biggest Charity Event in Gaming Returns For 2021 with Fourteen Fantastic Charities

Celebrating its 10 year anniversary, Jingle Jam brings together the whole gaming community in an epic and emotional event that runs from the 1st to the 14th of December.