New management of Take-Two Interactive Software, publisher of the popular Grand Theft Auto video games, said on Monday that the company would cut jobs and costs as it posted its sixth quarterly loss in a row, Reuters reported.
The company, whose management was replaced by dissident investors in March, said that it expected to cut costs by $25 million a year, Reuters reported.
Take-Two's chief executive, Benjamin Feder, told investors in a conference call on Monday that the company was in talks about alternatives for its Jack of All Games distribution business and Joytech gaming accessories unit, Reuters reported. Feder said Take-Two would focus on video game publishing in the future.
The company also named Lainie Goldstein as its chief financial officer. Goldstein had been serving as interim finance chief since her predecessor, Karl Winters, resigned in April. She was previously senior vice president of finance, Reuters reported.
-New York State Society of Certified Public Accountants
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