THQ cuts 240, 50% pay cut for the CEO

by: John -
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Well, the news became official. While it was thought to be around 170 before, THQ has in fact let go 240 people. The most of  layoffs should be completed at the end of March, but the rest would be done by September.

Also, CEO Brian Farrell will take a 50% paycut for one year, but he's still not doing too bad in this economy getting a salary of $359.250. Again, it looks like it's only going to last a year. Non-employee directors also got 50% lopped off their pay.

It's all in the administration and publishing areas though, so none of the studios were affected by this cut. 

So, now we got that out of the way, we'll have to see if anymore bad news comes out of the THQ front such as cancellation of titles and what not. Let's hope they can right the ship and our thoughts goes out to those affected by this layoff.

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