Well, the verdict is in and it looks like Take 2 is looking at a loss of $50 million in its second quarter financials. Although redundancies will most likely be one of the ways publisher will handle cutting the$25 million worth of costs by the end of the next fiscal year, no one particulars on who or when the lay-offs will take place. Favorite Wedbush Morgan analyst, Michael Pachter is predicting that approximately 200 of the 2,100 employees would get their walking papers. Of course, he also predicted a delay in the release of GTA IV, which Take-Two now needs to boost its end of the years fiscal results, or at least break even after factoring in the cost of restructuring. Kim Phu

Take 2 Posts Loss of $50m, Job Cuts Imminent [MCVUK]

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