With THQ announcing a $35.3 million dollar loss this past fiscal year, it's time for some people to get the ax. Not executives, mind you, but the little people. Gamasutra reports that CEO Brian Farrell stated 200 people will lose their jobs, but that most of them are employees working on "last gen" platforms like the PS2. On the bright side, the company plans to add about 300 new employees this fiscal year to "key studios" working on "key products."

The culling may have already started after rumors last week that members of THQ's Rainbow and Sandblast studios were laid off. To prevent people from losing their jobs in the future, CFO Colin Slade says that THQ is instituting a four-stage greenlight process to ensure better quality (and apparently better sales) from the publisher's titles.

[Via GameDaily]