THQ reveals layoffs as two dev studios switch to digital game content
Game publisher THQ is trying to focus more on downloadable games and today announced that two of its internal development studios, the Phoenix, Arizona-based Rainbow Studios and the UK-based Juiced Games, would now turn into studios that create downloadable game titles. In fact the studios themselves were renamed to THQ Digital Studios Phoenix and THQ Digital Studios Warrington, respectively.
Unfortunately this switch has also come with a price. THQ has also revealed that the two studios will have their work force cut by a total of 60 people. The first downloadable games from these offices will be ready by sometime in THQ's fiscal 2011 year.
In related news, THQ also announced their financial results for their past quarter that ended December 31, 2009. Revenues came in at $356.7 million, just a hair less than the same period a year ago. The company had a net profit of $542,000 for the quarter compared to a loss of $191.8 million for the same period a year ago.
Unfortunately this switch has also come with a price. THQ has also revealed that the two studios will have their work force cut by a total of 60 people. The first downloadable games from these offices will be ready by sometime in THQ's fiscal 2011 year.
In related news, THQ also announced their financial results for their past quarter that ended December 31, 2009. Revenues came in at $356.7 million, just a hair less than the same period a year ago. The company had a net profit of $542,000 for the quarter compared to a loss of $191.8 million for the same period a year ago.





