THQ lays off staff in Australia

THQ has confirmed that it has downsized its workforce by laying off its staff in Australia. It’s a part of its restructuring efforts after a poor financial performance.

“THQ confirms a reduction in force to the company’s administration and publishing organization,” they said.

“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. The streamlined organization reflects the company’s new strategy.

THQ’s five internal studios were not affected by this action. The company will provide greater financial detail regarding the costs and organizational benefit on its third quarter 2012 conference call scheduled for Thursday, February 2, 2012.”

It will be interesting to see what the company does now, as there had been rumours before that they have cancelled all projects for 2014. It was downplayed by THQ though.

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Thanks, Gamespot.