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THQ to Cut 600

MarketWatch 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 (14 cents per share) loss if not for the write-downs, but that still would have fallen short of analyst projections of seven cents per share earnings.

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