THQ doing fewer "core" games
Following USD 191 million loss.
THQ boss Brian Farrell has said the company plans to cut down on the number of "core" games it produces.
His comments came in an earnings call last night, as reported by Videogaming247. Farrell said THQ is "putting fewer core gamer titles into full production", and intends to concentrate more heavily on developing and marketing those games it does publish.
"With respect to the core gamer, the aggregate spending will come down," he said.
"The idea is focus, focus, focus. But we will compete aggressively... When we launch."
Farrell was speaking in the wake of news that THQ made a USD 191.8 million loss in the quarter ending 31st December, with sales down 30 per cent year-on-year. THQ plans to cut costs by USD 220 million in the next financial year, and will make redundancies in a bid to achieve this target. Around 600 people - 24 per cent of THQ's staff - are expected to lose their jobs.
The THQ boss put the blame at the door of the global economic crisis, stating, "Clearly, this is one of the most challenging holiday retail environments that I've experienced in my 18 years at THQ."