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THQ shows major loss, will fire 600

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THQ's the latest publisher to announce horror end-year financials today, revealing a $191.8 million loss for the three months ending December 31.

Sales for the period were $357.3 million, a year-on-year drop of 30 percent.

The company had already confirmed it was to drop 250 staff, but extended the redundancies today to 600, 24 percent of its total workforce.

The move should cut costs by $220 million in fiscal 2010, said the firm.

"Our focus for next fiscal year is to return to profitability and to generate cash," CEO Brian Farrell said in a statement. "Our fiscal 2010 plan will reflect the benefits of our focused product strategy and strong actions on costs."

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Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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