"As part of Take-Two's stated goal to maximize the efficiency of our business, we initiated a targeted restructuring of our corporate departments only in order to better align our resources with our current goals," reads a statement given to MCV, but "to be clear, there were no reductions made at the studio level."

Rumours picked up by MCV earlier had suggested that the video games giant would be cutting up to 20% of its workforce--around 400 people--at both corporate and studio levels. Take-Two's denial of these rumours did not comment on the claimed numbers.

Take-Two says the restructuring is in part related to its ongoing sale of North American video game distributor Jack of All Games, due to complete in the first quarter of this year.