![Take-Two Interactive CEO Says There Are “No Current Plans for Layoffs”](https://www.thetechgame.com/images/news/article/f3ed9344ea.jpeg)
“Our biggest line item expense was marketing, so we do have the opportunity to optimize many expenses that don’t involve our headcount: marketing and third party expenses, vendor charges, and the like, can still be optimized. We’re a big company, so we have always prided ourselves on being the most efficient company in the entertainment business.”
Take-Two also revised its net bookings forecast for the remainder of the fiscal year ending March 31st, 2024, to around $5.25 to $5.3 billion (down from $5.45 to $5.55 billion). It’s “currently working on a significant cost reduction program across our entire business to maximize our margins while still investing for growth,” per a recent letter to shareholders.
Extensive losses for the publisher are nothing new – full results for fiscal year 2023 showcase a significant increase in revenue following its acquisition of Zynga. Unfortunately, net losses amounted to $1.12 billion. In the fourth quarter of fiscal year 2023 alone, it generated $610 million in net losses (compared to a net income of $111 million the previous year).
Nevertheless, it has high expectations for the future, especially with Rockstar’s Grand Theft Auto 6 out in 2025 for Xbox Series X/S, PS5 and PC. Regarding a specific date, Zelnick says it’s “seeking creative perfection” and “when we feel we’ve optimized creatively, that’s the time to release.”
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Related Forum: Grand Theft Auto Forum
Source: https://gamingbolt.com/take-two-interactive-ceo-says-there-are-no-current-plans-for-layoffs
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