Today in Depressing THQ News: 240 Staffers Cut, While CEO Takes Pay Cut

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#51 Posted by FierceDeity (346 posts) -

@Kevin_Cogneto said:

@cmblasko said:

@Kevin_Cogneto: http://www.joystiq.com/2012/01/25/alleged-former-thq-staffer-sends-furious-note-to-board-press/

Read that before continuing to defend any one of THQ's upper management. And yeah, studios have been shut down.

I'm not defending anyone. My comment was specifically directed at the tone of Alex's article, and even more specifically his tone regarding the pay cuts. If Alex had criticized upper management for being incompetent, I wouldn't have batted an eye. It's obvious they're not a very well-run company.

I have to agree with you, Kevin_Cogneto. While this CEO is (probably) incompetent, I don't think taking a 50% pay cut deserves the amount of scorn present in Alex's article. Ultimately, even if the CEO had his salary reduced 100% it wouldn't have made much (if any) difference. Not that it wouldn't be admirable if he had taken a 100% pay cut, of course.

#52 Posted by pyide (131 posts) -

@Hailinel said:

@Baconator Saints Row 3 sold well. Red Faction, on the other hand...

All I've seen is people saying SR3 sold worse than 1 & 2 so far, which is rare for a sequel - especially one that is so much better than the previous entries. It obviously did better than Red Faction but they really released it at the worst possible time, the week after Skyrim and MW3 and same day as ASSREV. It got buried with all the other big games.

I'm just worried about Relic, how bad is this for them?

#53 Posted by Diablos1125 (176 posts) -

Sad news. Hope they can bounce back soon.

#54 Posted by Tidel (356 posts) -

Man. I hope THQ pulls through. I like them being around.

Maybe I'll buy two copies of Darksiders II, just to be safe.

#55 Posted by Grambyte (104 posts) -

lol @ hara-kiri tag.

#56 Edited by Grimluck343 (1132 posts) -

Guys, I have no idea how economics work, but anyone who makes over $50k a year seems pretty rich to me, I don't think anyone should make any more than that.

I'm joking by the way. I say fuck the dude for doing such a terrible job managing THQ.

I'm joking, btw. I say fuck the dude for doing a shitty job managing a once great publisher.

#57 Posted by DrDarkStryfe (998 posts) -

Completely walking away from the licensed "kids" titles, instead of rebranding and nurturing that product line, will be the death kneel for the company.

#58 Posted by vash207 (3 posts) -

Sucks for all those fired, but hopefully they will find work in the very near future.

#59 Posted by Xeirus (1279 posts) -

@theveej said:

A question towards the community:

Anyone here is willing to buy some THQ stock? if it is below 1$ per stock, we might as well get together and buy some stock at cheap, help the company not go bankrupt and hope they turn it around (and mb we get some small return on it eventually,...... I mean I'll through 10 dollars down just cause, but thats just me)

I really like some of THQ titles, and know a few people who work for them and they all are good people, so its kind of sad hearing news that the future is uncertain @ THQ

The people you want to help aren't going to profit from anything like this at all.

#60 Posted by BonzoPongo (109 posts) -

"Brian Farrell, the CEO, ... take a cash-rich profitable company and drive it from a $30 share price down to around $.70"

#61 Posted by Brendan (7518 posts) -

I always find it weird when people are so quick to blame the CEO for the fortune of an entire company (meaning the entire livelihood and success of the company rides on their job) yet these same people are so quick to call them overpaid. Can you not see the massive lack of logic that line of thinking takes?

#62 Posted by MadExponent (305 posts) -

The CEOs make so much money because the shareholders allow it. Blame the shareholders.

#63 Posted by HarlequinRiot (1098 posts) -

@AnEternalEnigma said:

On NeoGAF, there's a thread with the listing of all the development studios that have been closed since this generation started with the Xbox 360 launch in November 2005. It's a mile long and extremely depressing.

The current model doesn't work anymore.

Out of curiosity, does the post include any info about closures in past generations?

#64 Posted by Chris2KLee (2308 posts) -

That WH40K MMO seems like the logical thing to kill. The MMO market is so weird right now it's hard to justify trying to dump anymore money into it. Here's hoping for a turn around, but I have a bad feeling we'll be seeing a THQ IP auction sometime later this year.

#65 Posted by spartanlolz92 (511 posts) -

@Grimluck343: 75,000 is considered well off once you make it past 120,000 your rich

#66 Edited by Grimluck343 (1132 posts) -

@spartanlolz92 said:

@Grimluck343: 75,000 is considered well off once you make it past 120,000 your rich

Maybe in Podunk, Alaska. 120k is barely scrapping by in SoCal.

Edit: This is more sarcasm and hyperbole people. I'm not really going to get into a economics argument on a video game forum.

#67 Posted by Trillian (36 posts) -

The Management here really gets to me! There are so many question that I would love to ask them, How much have you been spending on licenses? More so to a point lets say WWE? How much then did you spend to make that game? I'm sure they spent LOADS of cash to get that licenses and then make that game... and i bet the they never sold that well even if they were Ok. They should of used there heads and Stopped and invested that money else where. Just saying maybe I'm wrong

But the real issue to the fellow developers and the general 240+ people that lost there jobs at this time I hope they/you can find something in this time.

#68 Posted by probablytuna (3445 posts) -

Fuck corporate America.

#69 Posted by radioactivez0r (808 posts) -

I would like to have a job where being fired for incompetence brings with it a nice little going away bonus.

#70 Posted by SOLO323 (31 posts) -

this sucks and i just bought SAINTS ROW 3 and SPACEMARINE hope they bounce back if this keeps up pretty soon there will be no more game publishers hope the industry doesnt crash like in 83

#71 Posted by tanookigt (17 posts) -

Shame on you, Alex. To 'beg the question' does NOT mean 'raise the question.' You are using it incorrectly. I expect your gun and your badge on my desk by this evening.

#72 Posted by allgrinzz (160 posts) -

You know, THQ kept surprising me over and over again with fun games that I didn't expect their name on this last year, I really didn't see all this coming. :( This just sucks imo, and I'm hoping to read a story about the underdog coming out on top sometime soon. Good wishes to those who got cut, and come on THQ, we need a rally call.

#73 Posted by mandude (2667 posts) -

It totally sucks that he lost 6 of my salaries and has been reduced to a mere 6 of my salaries.

#74 Posted by Slag (3345 posts) -

Should be noted if THQ is delisted that does not the company is bankrupt or can't continue to operate.

Also should be noted that the exchanges have been extremely generous in recent years at granting exceptions to the minimum listing requirements...

still not good they are this bad off, but it's hardly lethal yet.

#75 Edited by spartanlolz92 (511 posts) -

i think top managment needs a shake up why are the ceo's hardly ever held responsible??

thats why if im ever in the position of share holder im gonna make sure the ceo is one of the people who originally worked there. their the ones who made it a success in the first place idk about this guy but if hes one of those ceos who gets hired in like bobby kotick then well i know why there failing. i mean look at what steve jobs did with apple once they rehired him.

what i really want to know is holds all the licenses for relic and voilition games is it thq or the developer. and i just hope volition and relic are not in the same boat finacially

#76 Posted by sephirm87 (220 posts) -

@MadExponent said:

The CEOs make so much money because the shareholders allow it. Blame the shareholders.

Blame the shareholders for what? For wasting THEIR OWN MONEY. If the shareholders (owners of THQ) feel that throwing $300k at this guy is a worthwhile investment, so be it. ITS THEIR MONEY.

#77 Posted by Etnos (245 posts) -

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

!!!!????

this is so inaccurate.

#78 Posted by cmblasko (1006 posts) -

@Kevin_Cogneto: I see. The tone of the article doesn't really bother me considering the subject is a person who has cost hundreds, if not thousands of people their job and has lost their company 100s of millions of dollars over a relatively short tenure as CEO.

#79 Posted by Plipster (129 posts) -

Oh boy....

#80 Edited by ProfessorEss (7123 posts) -

@Olivaw said:

Does that guy look like Rob Riggle to anyone else?

First thing I thought too.

#81 Posted by demonbear (1860 posts) -

@Sooty said:

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

But you forgot Valve and CD Projekt.

They both done console games in the past. Well Projekt is about to release theirs anyway. But Dawn of War is a pc only thing, aint it? Space Marine is their first attempt at console gaming in a long time but anyway, i'm refering here to Dawn of War / Company of Heroes.

#82 Posted by ProfessorEss (7123 posts) -

I feel for the developers but I honestly feel this was and continues to be inevitable. There is just too much product being made. I bought Skyrim, Saints Row the Third and Assassin's Creed Revelations at Christmas. These games are going to take me well into spring and that's not even the tip of the iceberg that is my backlog.

I can't be the only one who regularly passes on games I would otherwise buy if I didn't already have three or four (more like 13 or 14) unplayed or barely played games on my shelf.

#83 Posted by Ravenlight (8033 posts) -

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

There's this little company, maybe you've heard of it. It's called like Faucet or something.

#84 Posted by Vadis (222 posts) -

@Ravenlight said:

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

There's this little company, maybe you've heard of it. It's called like Faucet or something.

I love Faucet! My favorite game of theirs is Radioactive Decomposition 2.

#85 Posted by demonbear (1860 posts) -

@Vadis said:

@Ravenlight said:

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

There's this little company, maybe you've heard of it. It's called like Faucet or something.

I love Faucet! My favorite game of theirs is Radioactive Decomposition 2.

Valve is not pc focused anymore, all their latests releases were multiplatform. They do lots of console games.

#86 Posted by Cozmicaztaway (210 posts) -

@MikeGosot said:

Dig deeper into Hara-Kiri. Ouch.

I feel like this is one of those moments where one either decide's that Alex is amazing and awesome and hilarious, or get kind of peeved. Personally, I'm laughing my ass off at that bit, although this is terrible news.

#87 Posted by jtman54179 (182 posts) -

@demonbear said:

@Vadis said:

@Ravenlight said:

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

There's this little company, maybe you've heard of it. It's called like Faucet or something.

I love Faucet! My favorite game of theirs is Radioactive Decomposition 2.

Valve is not pc focused anymore, all their latests releases were multiplatform. They do lots of console games.

You're confusing PC focused with PC exclusive. Valve has shown time and time again that even though they make console games, they support their PC customers, by providing add ons to their Left 4 Dead and Portal series and continuing to patch games long past year two. If you want to be that picky, I believe Diablo 3 is coming to consoles, so knock Blizzard off your list also. Not trying to attack you, just change your thinking.

#88 Edited by AriesDog (36 posts) -
#89 Posted by scarace360 (4828 posts) -

He needs more money. give him a raise.

#90 Posted by MikeGosot (3227 posts) -
@Cozmicaztaway said:

@MikeGosot said:

Dig deeper into Hara-Kiri. Ouch.

I feel like this is one of those moments where one either decide's that Alex is amazing and awesome and hilarious, or get kind of peeved. Personally, I'm laughing my ass off at that bit, although this is terrible news.

I laughed too, but i probably shouldn't have laughed. Not too loud, anyway...
#91 Posted by demonbear (1860 posts) -

@jtman54179 said:

@demonbear said:

@Vadis said:

@Ravenlight said:

@demonbear said:

God I hope everything's gonna be ok At Relic, probably the last pc focused studio that aint Blizzard!

There's this little company, maybe you've heard of it. It's called like Faucet or something.

I love Faucet! My favorite game of theirs is Radioactive Decomposition 2.

Valve is not pc focused anymore, all their latests releases were multiplatform. They do lots of console games.

You're confusing PC focused with PC exclusive. Valve has shown time and time again that even though they make console games, they support their PC customers, by providing add ons to their Left 4 Dead and Portal series and continuing to patch games long past year two. If you want to be that picky, I believe Diablo 3 is coming to consoles, so knock Blizzard off your list also. Not trying to attack you, just change your thinking.

Ugh you guys... This is Valve, since HL2 :

Half-Life 22004First-person shooterPC, Xbox, Xbox 360, PlayStation 3, Mac
Half Life 2: Deathmatch2004First-person shooterPC, Mac
Half-Life Deathmatch: Source2005First-person shooterPC
Day of Defeat: Source2005First-person shooterPC, Mac
Half-Life 2: Lost Coast2005First-person shooterPC, Mac
Half-Life 2: Episode One2006First-person shooterPC, Xbox 360, PlayStation 3, Mac
Half-Life 2: Episode Two2007First-person shooterPC, Xbox 360, PlayStation 3, Mac
Portal2007Puzzle gamePC, Xbox 360, PlayStation 3, Mac
Team Fortress 22007First-person shooterPC, Xbox 360, PlayStation 3, Mac
Left 4 Dead2008First-person shooterPC, Xbox 360, Mac
Left 4 Dead 22009First-person shooterPC, Xbox 360, Mac
Alien Swarm2010Top-down shooterPC
Portal 22011Puzzle gamePC, Xbox 360, PlayStation 3, Mac
Dota 22012Action RTSPC, Mac
Counter-Strike: Global Offensive2012First-person shooterPC, Xbox 360, PlayStation 3, Mac

See? The VAST majority since HL2 : Episode one is MULTIPLATFORM.

Thank you, good bye.

#92 Posted by jtman54179 (182 posts) -

@demonbear: From your chart, you just argued for my point.

Though Valve is not a PC exclusive company...as I stated, all of the the games they released are on the PC platform and five are PC exclusives, proving it truly is a PC focused company.

You're welcome, come again soon.

#93 Posted by jakob187 (21504 posts) -

@danielcampbell said:

This is infuriating. I remember being laid off from THQ and Mr. Farrell still took a multi-million dollar bonus that year. My heart goes out to those who lost their jobs. I know how terrible it feels to lose the job you wanted to have for the rest of your life.

Maybe you need to chat with Patrick for an article. Shit like this is pretty disgusting, where a lot of hard-working folks get laid off because a CEO fails to keep things relevant and just cares about the money in his pocket...at least, apparently he does.

#94 Posted by el_tajij (704 posts) -

300k is a ridiculously low salary for the owner of a major video game company. I feel like anyone who criticizes this CEO for still making (compared to a minimum wage job) a lot of money has obviously never worked an honest day in their life. The stress that this guy is constantly under must be ridiculous. On top of which, it's not going to get any easier.

#95 Posted by DrDarkStryfe (998 posts) -

Their earnings call is going on right now. They are blaming their poor holiday quarter on the uDraw tablet failing in the marketplace, something to the tune of $100 million below projections.

#96 Posted by Cozmicaztaway (210 posts) -

@el_tajij said:

300k is a ridiculously low salary for the owner of a major video game company. I feel like anyone who criticizes this CEO for still making (compared to a minimum wage job) a lot of money has obviously never worked an honest day in their life. The stress that this guy is constantly under must be ridiculous. On top of which, it's not going to get any easier.

Except most of the money he earns probably is not in the form of paychecks, but bonuses and stocks and stuff. Wait, stock money... ok, I see your point, this dude has no money aside from his salary.

#97 Posted by Bucketdeth (7981 posts) -

These things are terrible, I hope all those employees get back on their feet as well as THQ.

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