Europe left bloody as Take-Two restructuring efforts continue

Take-Two’s been busy, and it’s not looking very pretty – at least, as far as the people in its Europe Division payroll is concerned. The last time we reported on such gruesome goings-on, we gave you CEO Ben Fender’s take on the company-wide restructuring that’s leaving the Marketing and Sales Departments bloody.

Now, here’s Take-Two Interactive International Managing Director James Ellington with his statement on why the currently-biggest bloodletting in video games history (at least in this decade) is necessary:

These pro-active measures also will help offset the increased development costs for next-generation hardware platforms, as well as provide increased value for our shareholders.

While it is regrettable that there will be a number of staff reductions, this was necessary so that we could realise our goals of creating continuing growth opportunities for the larger organisation.

So basically, that means get rid of the redundancies to balance out the ridiculously-high amount of funding one needs to develop games for new-gen consoles. It’s great that the higher ups in Take-Two are keeping both the company’s bottom line and the ability to create high-quality content for today’s cutting-edge consoles in sight.

However, it’s certainly shocking that they have to go to such an extent just to keep afloat. It’s not just employees Take-Two will be axing, take note. Besides letting go most of its European managers, as well as CEO Paul Eibeler and other directors, the publishing firm is also looking to sell off other business units, one example is peripherals division JoyTech.

Take-Two’s been busy, and it’s not looking very pretty – at least, as far as the people in its Europe Division payroll is concerned. The last time we reported on such gruesome goings-on, we gave you CEO Ben Fender’s take on the company-wide restructuring that’s leaving the Marketing and Sales Departments bloody.

Now, here’s Take-Two Interactive International Managing Director James Ellington with his statement on why the currently-biggest bloodletting in video games history (at least in this decade) is necessary:

These pro-active measures also will help offset the increased development costs for next-generation hardware platforms, as well as provide increased value for our shareholders.

While it is regrettable that there will be a number of staff reductions, this was necessary so that we could realise our goals of creating continuing growth opportunities for the larger organisation.

So basically, that means get rid of the redundancies to balance out the ridiculously-high amount of funding one needs to develop games for new-gen consoles. It’s great that the higher ups in Take-Two are keeping both the company’s bottom line and the ability to create high-quality content for today’s cutting-edge consoles in sight.

However, it’s certainly shocking that they have to go to such an extent just to keep afloat. It’s not just employees Take-Two will be axing, take note. Besides letting go most of its European managers, as well as CEO Paul Eibeler and other directors, the publishing firm is also looking to sell off other business units, one example is peripherals division JoyTech.