Take-Two lay-offs are corporate only, says firm

Take-Two has responded to reports this morning over lay-offs within the company, and turns out, it's happening at the corporate level only.

While not making any significant cuts in the suit level, T2 denies that any cuts were being made on the studio end.

"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," read a statement given to MCV.

"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.”

It was reported earlier today that Take-Two was cutting 20 percent of the workforce, and rumor had it that 400 people were to be let go which included cuts at Rockstar UK.

More through the links.