THQ Announces Financial Results, Cuts 24% Of Staff
In November THQ announced it was cutting 250 people, as part of a "new strategic plan". Due to the current economic climate and disappointing results that number will increase; some 600 people will now be let go, representing a whopping 24% of the company's workforce.
During the last three months of 2008, THQ brought in sales of $357.3 million, while the company's net loss for the period was $191.8 million. A large chunk of that loss, $118.1 million, was due to a goodwill impairment charge. During the same period a year ago, THQ posted a net income of $15.5 million on $509.6 million in sales.
The company also revealed Saints Row 2 has shipped 2.6 million units, while WWE SmackDown vs. Raw 2009 shipped 4 million units and de Blob 700,000. The Wii game Big Beach Sports also did well with more than 1.2 million units shipped.
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Johnnsen
replyWhat's with all the companies firing their staff?
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They're all being super short sighted!
It boggles my mind for companies like THQ which look to still be making a profit.
Lets see, if every company in the whole world laid people off those people they laid off no longer have an income. If they don't have an income they're not going to be spending as much money. No money equals all companies doing worse because no one has the money to buy the products.
If you're profitable (sure maybe not as much as before, but so what) then you should be keeping people employed!
All the profitable companies who are just trying to improve there bottom line by reducing staff imo are going to be hurting our economy even more in the long term!
