THQ to Cut 600
Posted: Wed Feb 04, 2009 9:26 pm
.........Looks like the economy is catching up to the gaming industry as a whole not just Sony & EA........
http://www.MarketWatch.com reports on THQ's fiscal third quarter financial results, and between falling sales and other write-downs, the publisher reports a net loss of $191.8 million ($2.86 per share) for the quarter ending December 31, announcing they will be laying off 600 employees as a cost-cutting measure, which represents about 24% of the company's staff. Those losses for the quarter, compared to earnings of $15.5 million (23 cents a share), for the same period last year, would have been a much more modest 9.6 million, a 14 cents per share loss if not for the write-downs, but that sill would have fallen short of analyst projections of seven cents per share earnings.
SEE ALSO:
Report: Sony to post first loss in 14 years - viewtopic.php?f=2&t=3098&view=next
540 jobs to be cut on news that EA lost $310 million - viewtopic.php?f=2&t=1867&view=previous
http://www.MarketWatch.com reports on THQ's fiscal third quarter financial results, and between falling sales and other write-downs, the publisher reports a net loss of $191.8 million ($2.86 per share) for the quarter ending December 31, announcing they will be laying off 600 employees as a cost-cutting measure, which represents about 24% of the company's staff. Those losses for the quarter, compared to earnings of $15.5 million (23 cents a share), for the same period last year, would have been a much more modest 9.6 million, a 14 cents per share loss if not for the write-downs, but that sill would have fallen short of analyst projections of seven cents per share earnings.
SEE ALSO:
Report: Sony to post first loss in 14 years - viewtopic.php?f=2&t=3098&view=next
540 jobs to be cut on news that EA lost $310 million - viewtopic.php?f=2&t=1867&view=previous