Publisher THQ is in a bit of a pickle at present. The company’s monumental failure with their uDraw product has resulted in massive financial issues. To put it into perspective, THQ share prices were valued at $30 not too long ago; currently, the shares are worth $0.70. Drastic action is needed in order to salvage the company, and that has resulted in them permanently dropping their children and family game labels in order to focus on core, AAA titles titles like Saints Row: The Third. I’m sure many gamers don’t have a problem with this new strategy.
THQ has just announced further employee layoffs, with those from the administrative and publishing departments receiving pink slips. None of the five internal development studios have been affected, so at present this looks like a structure shuffle for THQ itself and not its collection of dev teams.
How did this all happen? Well, a fairly insightful and venomous explanation can be found in an open letter issued to the THQ Board of Directors. The letter was penned by those THQ staff members who have lost their jobs in this recent restructuring – the ex-employees refer to themselves as “The Formerly Mismanaged”. They’re placing all of the blame on the publisher’s senior management, specifically CEO Brian Farrell.