I still don’t understand how the guys who publish the Grand Theft Auto series, a license to print money second only to Madden‘s yearly roster churn, are in financial trouble. That has got to be the dictionary definition of fiscal retardation.

And yet, layoffs are a-comin’.

Ben Feder, Chief Executive Officer:

While the decisions we are announcing today were difficult and will unfortunately require employee layoffs, we believe these necessary actions will improve the financial and operational performance of Take-Two, leading to greater value for our shareholders.

From official corporate report here.