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.