Wednesday, November 5, 2008
THQ Cuts 250 Employees
Agoura Hills-based video game maker THQ said late Wednesday that it is cutting 250 employees, or 17% of its staff, after reporting disappointing results. THQ said it would undertake a "significant" business realignment as its looks to focus on fewer, higher quality titles. The firm said it is cancelling several titles under development, closing five studios, and reducing approximately 250 people and streamlining its corporate organization. THQ blamed lower-than-anticipated international sales of WALL-E, and higher than expected sales returns and allowances.