THQ just keeps piling on the pain for fans and investors, as a document filed recently with the Securities and Exchange Commission reveals that they're going to be in for a rocky year. This comes on the heels of a potential NASDAQ de-listing and a letter from a very unhappy ex-employee alleging all sorts of wrongdoing at the publisher, specifically in regard to the failed uDraw and its sequel.
The document revealed plans to lay off "up to 240 selling, general and administrative personnel worldwide" by September. "No studios are a part of this," they told Joystiq. "It's administration and publishing offices worldwide."
Still, you've got to worry when the CEO, Brian Farrell, is taking a 50% pay cut for the next year, as well as a 66% cut to the money he'd receive if he stepped down. The other members of the company's board of directors have also elected to take 50% pay cuts for a year.
None of this bodes well, but we sincerely hope THQ can get their business back on track. They've got plenty of great games in the pipeline—Metro: Last Light, Guillermo Del Toro's inSane, the hopefully-not-cancelled Warhmamer 40K MMO, and more. Give us your predictions and thoughts in the comments or on Twitter.