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Take-Two restructures corporate departments, studios untouched [update]

Justin McElroy

Update: We just received this statement from Take-Two: "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."

Update 2: While MCV's report of reductions has been confirmed with Take-Two, the outlet's specific numbers – 20% or approximately 400 people – have been characterized as "inaccurate" by TTWO. The company has "not disclosed any actual reduction numbers."

Original story: Maybe it's our fault. We had been talking to friends at the end of January, saying that the layoffs were finally over and that the ship had righted itself -- and as soon as we issued that obvious jinx, the firings start. The latest: MCV reports that according to "senior industry sources" Take-Two will be letting go of 20 percent of its global workforce, or around 400 people. [Take-Two denies this number. See Update 2 above.] Cuts will reportedly come from both studio and publishing operations. Take-Two tells us that the restructuring will not affect the company's studio operations.

The latest cost-cutting move comes after the company sold its distribution arm, Jack of All Games, to mega-corp Synnex, and some of those layoffs were related to said sale. Take-Two's got some really good-looking games slated for 2010, so here's hoping it can turn this around and that all affected land on their feet.

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