When will it end? It seems like 2010 is off to a bad start.
http://www.mcvuk.com/news/37419/Take-Two-to-drop-20-of-global-workforce
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Senior industry sources tell MCV that cuts will hit publishing and studio operations
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.
(more at the link)
