Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 02 February 2012 09:32

THQ board takes pay cuts

Written by David Stellmack



CEO’s pay slashed by 50%


THQ is continuing with its tightening of the belt in a battle for the very survival of the company. In the latest round of news, CEO Brian Farrell will swallow a pay cut of 50% that will start in February and return to the normal rate next year if the company’s financial performance improves.

Beyond sacrificing of 50% of his pay for the rest of the year, the THQ board members have also elected to take less compensation for a year to help the company. Rumor has it that Farrell’s golden parachute has also been tweaked to cost the company less.

THQ has also confirmed that 240 employees have received the boot. These planned layoffs come from the restructuring of the company. Again, THQ has gone out of its way to make sure that everyone knows that these cuts came from the administration and publishing divisions of the companies, and that again studios were said not to be touched.

The company has declined to confirm whether the moves will impact any projects. As we told you previously, the restructuring centers away from the kid-friendly titles and licensed offerings to more mainstream and hardcore offerings. The company has still not provided an update on whether the Warhammer 40K MMO project continues. Expect to hear more about this soon.


David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments