Publisher THQ announced today that its plans to eliminate $220 million in spending has been a great success, thanks to the shedding of hundreds of workers, cancelling of games and other "business realignment actions."
Fairly quick turnaround, as THQ announced in February that it was canning 24% of its workforce and yanking titles from its fiscal 2010 publishing slate. That translated to layoffs at Saints Row developer Volition and the sloughing off of Big Huge Games, Heavy Iron Studios and Incinerator Studios.
THQ president Brian Farrell seemed pleased with the corporate execution of goals.
"Our goal is to return to profitability and generate positive cash flow in fiscal 2010, and to position THQ for long-term sustainable and profitable growth," he said.
On the potentially more positive side, that growth could easily be achieved with THQ's plans for even more sequels to Red Faction and Darksiders. Let's hear it for progress!