Report: 170+ Laid Off At THQ [UPDATED]
Posted on Wednesday, February 1 @ 14:52:00 Eastern by Daniel Bischoff
According to an SEC filing, plans are in place to turn THQ around. This includes the elimination of up to 240 jobs and the pay cut of executives at the company to the tune of up to fifty percent:
CEO of THQ Brian J Farrell's salary will be cut 50%, from $718,500 to $359,250 for one year. Any lump pay tied to Farrell leaving or being fired without cause will be reduced by a third.
There has been a whirlwind of rumors enveloping the financial illness at THQ and Independent Industry analyst Kevin Dent claims to know just how bad things are at the publisher of Warhammer, Saints Row, and more.
Via Twitter, Dent claimed:
This rumor comes on the heals of a delisting threat to THQ on the Nasdaq stock exchange. Whether the report is true or not means little at this point. Things obviously aren't looking good for THQ in the middle of their rebranding and seachange from licensed IPs to hardcore games.
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