Take-Two Announces a “Significant Reduction in Costs” but Says it’s not Layoffs

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Take-Two announced recently that it was working on “significant cost savings” but assured the public that they would not be laying off their employees for the time being.

Take-Two released a report on its earnings where it stated:

“We are working on a cost reduction program that will impact our entire business. This will allow us to maximize our profit margins and still invest for growth.” These measures are both more robust and incremental to our prior cost-reduction program. We also aim to achieve greater leverage in our operations as we roll out the outstanding release schedule.

In an IGN ReportCEO Strauss Zelnick assured them that no layoffs are planned. He continued:

Zelnick said, “We haven’t yet put meat on the bone of that.” “I’d like to note that marketing is our largest line item. We think that we can optimize it. We also have expenses from third parties, including software, suppliers, and other vendors. We always find a way to make money. We have no current plans and it is difficult to lay off people.

As pointed out by Games Industry.bizTake-Two had an identical plan last year, but as part of the “cost reduction plan”, the company laid off a number of employees that was not disclosed.

In the gaming industry, layoffs are already a common occurrence. In the last few months, companies such as 2K, Microsoft, Riot, Many more have laid off significant numbers of their employees.

Check out our story about Take-Two’s earnings report to learn more. GTA 5 sold more than 195 millions unitsHow to use Ori dev has delayed the release of his latest game, No Rest for the Wicked..

‘ Credit:
Original content by www.gamespot.com: “Take-Two Announces ‘Significant cost Reduction’ But Says it’s Not Layoffs”

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