THQ CEO Brian Farrell noted that studios focused on last-gen development would be reduced in size as part of the restructuring, adding that the company expects overall headcount growth of about 300 workers by the end of its next fiscal year.

In an investor conference call yesterday, THQ posted a net loss of $35.3 million for its 2008 fiscal year ending on March 31, 2008. The company's loss was chalked up to its underwhelming fourth quarter performance, where it lost $34.5 million due to lower-than-expected sales of previously released games.