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THQ Confirms Cuts

A THQ investor report (Adobe Acrobat format) has a confirmation of recent word of layoffs at the company, saying this will impact as many as 240 "selling, general and administrative personnel." THQ CEO Brian Farrell will also take a one-year 50% pay cut, from $718,500 to $359,250. This follows recent word that the company is exiting its relationships with kidsí licensed entertainment companies. Thanks Edge. Update: The number of layoffs was originally listed as 24 due to a typo. Apologies for the error.

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5. Re: THQ Confirms Cuts Feb 1, 2012, 21:40 Beamer
 
Bhruic wrote on Feb 1, 2012, 21:31:

1 year 50% paycut, probably a smaller but still very substantial bonus, then when 2012 has enormous comps (would be nearly impossible not to) a raise and a mega bonus to celebrate.

You forgot the "And should anything go wrong, a complete golden parachute, and an offer to sit on the board of another company".

Part of the problem with THQ is that their entire identiy is Farrell. The board can't imagine life without him. No one can. He, and his vision, is all they've ever known. The company is literally made in his impression.

So I don't know if they'll ball up and cut that cord. I don't think their culture is prepared for something like that. I could be wrong, but given his tenure, and all he's been through, it just seems like they think they're married to their CEO and it's battered spouse syndrome.
 
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    Date Subject Author
  1. Feb 1, 21:19 Re: THQ Confirms Cuts Beamer
  4. Feb 1, 21:31  Re: THQ Confirms Cuts Bhruic
>> 5. Feb 1, 21:40   Re: THQ Confirms Cuts Beamer
  2. Feb 1, 21:23 Re: THQ Confirms Cuts Wallshadows
  3. Feb 1, 21:28  Re: THQ Confirms Cuts nin
  9. Feb 2, 03:30  Re: THQ Confirms Cuts eRe4s3r
  6. Feb 1, 21:55 Re: THQ Confirms Cuts Cutter
  7. Feb 1, 22:43  Re: THQ Confirms Cuts Krovven
  8. Feb 1, 23:26   Re: THQ Confirms Cuts Prez
  10. Feb 2, 07:17 Re: THQ Confirms Cuts Dades
  11. Feb 2, 08:13 Re: THQ Confirms Cuts Nuukee
  12. Feb 2, 08:24  Re: THQ Confirms Cuts Wildone
  14. Feb 2, 09:25  Re: THQ Confirms Cuts Verno
  13. Feb 2, 08:35 Re: THQ Confirms Cuts Nuukee
  15. Feb 2, 10:06  Re: THQ Confirms Cuts Wildone


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