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Take-Two CEO: ‘GTA 6’ Still Set for 2025, ‘Significant’ Cost Cuts Coming After Weak Outlook but No Current Layoff Plans
"Grand Theft Auto" publisher Take-Two Interactive is working on an "significant" cost reduction plan following mixed earnings results for its October-December 2023 quarter
“Grand Theft Auto” publisher Take-Two Interactive is working on an “significant” cost reduction plan following mixed earnings results for its October-December 2023 quarter on Thursday, but leadership says it is not looking to workforce cuts as its first resort in savings. In a letter to shareholders accompanying the quarterly results, Take-Two said it is revising its net bookings forecast for the rest of its fiscal year 2024, which ends March 31, to between $5.25 to $5.3 billion and “currently working on a significant cost reduction program across our entire business to maximize our margins, while still investing for growth.” Also in the letter, Take-Two listed projected release dates for its upcoming titles, including Rockstar Games’ eagerly anticipated “ Grand Theft Auto 6,” which is currently slated as a “Calendar 2025” launch.
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