Take-Two CEO Clarifies Studio Closures, Claims No Shut Down Occurred

In a recent interview, Take-Two CEO Strauss Zelnick stated that the company has not shut down Roll7 and Intercept Games, contrary to earlier reports. Zelnick explained that the company is undergoing a cost reduction program and is being cautious with its release schedule across all studios. When questioned about the closures, a PR representative interjected, stating that the company's cost reduction plan involves a 5% reduction in headcount worldwide, but did not provide a label-by-label breakdown. Later, Zelnick discussed Private Division's health, stating that the label is not in trouble and that the company is reviewing all projects company-wide, making hard choices when necessary. Reports of the studios' closures emerged earlier this month, with a WARN notice filed in Washington indicating a studio closure impacting 70 people in Seattle, where Intercept Games is based. Take-Two's financial report revealed a $3.74 billion net loss and confirmed that GTA 6 will not release this fiscal year. In an update, a Take-Two representative stated that the entire organization contributed to cost reduction efforts, including Private Division, and that the label continues to support various titles and updates.