THQ to cut 240 jobs worldwide, CEO salary halved until next Feb
Severance payments expected to total $8M USD
Restructuring is the key word at THQ these days now the publisher is putting its master plan in action, but the fallout isn't going to be pretty. Not that it ever is, but in THQ's case the official number of job cuts was far worse than originally rumored. Earlier this week, word from the grapevine strongly suggested that 14 positions at THQ's remaining Australian operations would be affected, with its Japanese offices to be shuttered altogether.
Yesterday THQ confirms through a regulatory filing that no less 240 administrative, general and sales positions worldwide will be made redundant beginning the end of March, to be completed by September. The total severance payments to laid-off workers is expected to amount to $8 million USD.
Meanwhile, THQ CEO Brian Farrell will be taking a 50 perent cut in pay for a one-year period beginning February 13th. Farrell's annual salary will drop to $359,250 USD until next February.
Source: Gamasutra
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Maybe THQ will go further down and he might have to deal with the ungodly nightmare of a 5-figure income, like the rest of us! Ohnoes!
Disclaimer: this goes for any CEO. THQ's just relevant here.
Using it as a first option could help in so many ways.