THQ has laid off a number of employees from its administrative and publishing departments, but its internal studios appear to be unscathed.
The rocky ride continues at THQ, which on Wednesday announced an “updated business strategy” that will see the company move away from throwaway licenses in order to focus on core franchises like Saints Row, UFC Undisputed and Warhammer 40,000. Not unsurprisingly, an announcement of staff cuts followed.
“THQ confirms a reduction in force to the company’s administration and publishing organization,” the publisher told Game Informer. “As recently announced, the company is exiting the kids’ licensed games category, and is focusing on its core game franchises and developing its digital initiatives.”
If there’s any upside to the story, it’s that THQ’s internal studios, which include Relic, Volition, Vigil Games and two THQ-labeled studios in San Diego and Montreal, weren’t affected by the cuts. That will come as no solace to those who were affected, but something has to give: THQ shares are currently trading around 70 cents, having collapsed from around $30 just a few years ago. The company said it would reveal details about its reorganization in February.