Looks like a name change more then anything. Levine and a fifteen core members of Irrational are all going to remain together, still under Take-Two Interactive, just with a different name.
I wonder if bioshock infinite lost a lot of money. Seems odd they would lay off 150 or so folks if the game did well.
If this is as it reads, a move by Levine himself, then he's a dick.
Quite a few studios employ what is best described as 'seasonal workers', who do code monkey stuff during the development phase, and are laid off afterwards. The sad thing is since so many fresh out of college, wide eyed programmers have dreams of being in the gaming industry, they accept the $45k a year to have horrible hours and treatment only to be tossed at the first mention of "going to gold". It is really a race to the bottom with these guys.
Also, this announcement is lacking that BioShock awful twist. We're going to find out Irrational Games were actually EA the entire time!