Take-Two Is Quietly Killing Private Division
When is Intercept Games officially set to close, and what legal requirement is dictating this timeline?
Intercept Games is officially set to close on June 28, and this timeline is dictated by the notice period required by the Washington State WARN Act.
What specific reasons did Take-Two CEO Strauss Zelnick provide for not immediately shuttering Intercept Games and Roll7?
Take-Two CEO Strauss Zelnick did not provide any specific reasons for not immediately shuttering Intercept Games and Roll7. Instead, he claimed that the company "didn't shutter" the studios and emphasized that they are always looking at their release schedule across all studios to make sure it makes sense. He also mentioned that they are in the middle of a cost reduction program that they've already concluded and are now fully rolling out, saving $165 million in existing and future costs5. However, he did not clarify the actual status of the studios.
What are the closure dates for Intercept Games and Roll7, and how are these aligned with the requirements of the Washington State WARN Act?
Intercept Games is set to close on June 28, following a notice period required by the Washington State Worker Adjustment and Retraining Notification (WARN) Act. Roll7 is also winding down, though a small team remains to tie up loose ends. The WARN Act requires employers to provide at least 60 days' notice of a plant closing or mass layoff. In this case, the closure of Intercept Games aligns with the requirements of the WARN Act, ensuring that employees receive the appropriate notice before the closure takes place1.