The video game industry has been hit hard in 2020 due to the economic downturn caused by the COVID-19 pandemic. Take-Two Interactive, one of the largest video game publishers in the world, recently announced layoffs at its Private Division label following a difficult third quarter.
Private Division is a subsidiary of Take-Two that specializes in publishing independent video games. The label was founded in 2017 and has since published several successful titles, including Kerbal Space Program, The Outer Worlds, and Ancestors: The Humankind Odyssey.
Unfortunately, the pandemic has had a major impact on the video game industry. Take-Two reported a net loss of $9 million in its third quarter, which ended on June 30th. As a result, the company announced layoffs at Private Division.
The layoffs were reportedly limited to the label’s marketing and publishing teams, with no developers affected. Take-Two CEO Strauss Zelnick said that the layoffs were necessary to ensure the company’s long-term success.
Despite the layoffs, Private Division remains committed to publishing independent games. The label recently announced that it will be publishing two new titles in 2021: Disintegration and The Ascent. Both games are expected to be released on multiple platforms, including PC, Xbox One, and PlayStation 4.
The video game industry has been hit hard by the pandemic, but Take-Two is confident that it can weather the storm. The company is continuing to invest in its Private Division label and is looking forward to a brighter future in 2021.
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