According to a report on British trade site MCV, publisher Take-Two will soon commence a massive restructuring operation which will see up to 400 employees let go. Updated with comment from Take Two.
That's 20% of the company's total workforce, with cuts expected to be made at both the publisher and development studio level.
UPDATE: Take-Two tells Kotaku that the cuts will not be at the studio level and only will affect corporate-level employees. In an e-mailed statement this morning, Take-Two corporate spokesperson Alan Lewis told Kotaku: "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."
Take-Two has offices and studios all over the world, but its most prized possessions are the six branches of Rockstar (Grand Theft Auto), the various 2K studios (BioShock, Mafia) and sports developer Visual Concepts (NBA 2K).
You'd assume that the likes of Rockstar North (GTAIV), Irrational Games (BioShock) and Visual Concepts would be spared the axe. But other studios - like the troubled Team Bondi - may not be so fortunate.