Take-Two (TTWO) just unveiled an update.
Take-Two Interactive Software, Inc. is launching a cost reduction program aimed at enhancing its margin profile through increased efficiencies. The initiative will streamline operations, including project cancellations and workforce reductions, leading to an estimated $160 million to $200 million in charges, with significant annual savings expected. The plan, which should be in full effect by the end of 2024, will reduce the company’s workforce by 5% but promises over $165 million in yearly cost savings.
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