THQ says it has 'substantially completed' its budget cuts

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THQ says it has 'substantially completed' its budget cuts

Posted Apr 2nd 2009 8:00PM by John Callaham
Filed under: Biz

THQ's era of cost-cutting to deal with a reduction in revenue is now 'substantially completed' according to a new company press release. The game publisher stated that it has reduced its new 2010 fiscal year budget (which officially began on Wednesday) by $220 million. It's CEO Brian Farrell says THQ's goal is to get back to being profitable in the new fiscal year.

THQ's problems over the past 12 months are well known as a number of their game titles failed to meet sales expectations. THQ began a rather brutal process of cutting expenses which included shutting down or selling off a number of internal game developers and cutting 600 jobs across the board or nearly a quarter of their entire work force. Still up in the air is the fate of THQ studio Big Huge Games which the publisher plans to either shut down or sell off by mid-May

Tags: big-huge-games, thq

Reader Comments (Page 1 of 1)

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