Publisher THQ was hit hard during its third quarter, losing $191.8 million over the holidays. That loss, previously expected to be net profit, and more lowered expectations will translate to massive cuts to its workforce.
THQ announced plans to layoff approximately 600 employees, a staggering 24% of its total workforce, as part of a plan to cut costs by $220 million in its fiscal 2010. The publisher will also cut additional projects and intends to reduce sales, marketing and corporate expenses globally through headcount and other cost reductions.
The publisher laid off 100 employees from its mobile division last week. It previously announced plans to reduce headcount by 250 after a similarly disappointing previous quarter, shedding studios and canceling in-development games.