Feeling the heat in these trying financial times, software developer and publisher THQ has announced plans to lay off almost a quarter of its work force. 600 employees are expected to go after the company posted losses totalling $191.8 million during the fiscal third quarter of 2008.
Franchises developed by THQ include Saint's Row, Red Faction and Company of Heroes. The company also has exclusive licensing agreements with Nickelodeon, World Wrestling Entertainment and Games Workshop, creator of the popular Warhammer 40,000 series of games. Among the studios under the company umbrella are Volition, Relic Entertainment and Big Huge Games.
In an ominous statement, CEO Brian Farrell has stated that reductions to product development budgets mean that THQ will be "putting fewer core gamer titles into full production," focusing instead on the marketing and development of these titles. Casual games and titles with a strong online component have also been identified as areas that THQ studios will be moving toward.
At least Dawn of War fans don't need to start worrying quite yet - the PC exclusive RTS has been a success, with in excess of 4 million copies of the core title and its expansions being sold worldwide. The sequel is due out later this month.
Thats a big loss hope this is not a sign of things to come ???