How many employees may be fired by THQ layoffs?
The news is that around 600 employees will be asked to leave their jobs at THQ. This will be around 24% of the total workforce
How many employees does THQ have?
The total no. of employees at THQ is around 2400 as of now.
Any news of previous layoffs by the company
No details available about any previous layoff news.
Any plants or locations being closed by THQ?
No about the plants, but it is reported that the company plans to reduce product development spending by an additional $70 million through studio dispositions and other projects.
Which locations will be affected by the THQ Layoffs?
Most layoffs will occur in the U.S. operations.
Which segment of employees will be affected by the THQ layoffs
Though exact details are not available, it is learnt that there will be cost cutting in each functional area of THQ. The company plans to reduce product development spending by an additional $70 million through studio dispositions and other project and headcount reductions.
How much savings can be made by THQ Layoffs?
There will be an expected annual saving of 30 million USD.
When will the THQ layoffs happen
The layoffs will be done in the next few weeks.
Any severance package for the affected employees?
No info available.
What are the primary reasons of THQ Layoffs
The layoffs, along with other cost cutting measures, are in response to continuing uncertainty in the market.
Any other news about THQ?
As per Yahoo Finance, “Our focus for next fiscal year is to return to profitability and to generate cash. Our fiscal 2010 plan will reflect the benefits of our focused product strategy and strong actions on costs,” said Farrell.
The company expects to incur significant charges as part of the additional cost reduction actions, which will be excluded from the company’s non-GAAP results. Most of the charges will be recognized in the remainder of fiscal 2009.
Let's hope that alternative jobs are available to the affected employees of THQ Layoffs Job Cut
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