THQ Slashing Up To 240 Jobs In Restructuring

THQ will cut "up to 240 selling, general and administrative" jobs globally in a new restructuring plan, it said in a filing at the SEC. The cuts will be part of "a realignment of the organizational structure" of the company, it said. Most of the restructuring plan is expected to be implemented by March 31, with the remainder to be finished by Sept. 30, it said.

THQ said Q3 revenue fell to $305.4 million from $314.6 million in Q3 last year, while its loss widened to $55.9 million, or 82 cents a share, from $14.9 million, 22 cents. Earnings from Saints Row: The Third and WWE ’12 "were offset by poor results" for uDraw hardware and software, it said. Weaker uDraw revenue, along with "high inventory ... Log in to view full article.

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