THQ isn’t quite done cleaning house yet. After cancelling the Red Faction franchise (at least for the foreseeable future), it has announced that it’s going to be shying away from most of its kids games, as well as licensed games, in order to focus on more original efforts. As a result, two Australian studios for the company are shutting down, along with its Phoenix studio. 200 jobs are expected to be lost as a result, though the layoffs should not effect some upcoming projects, including Warhammer: Space Marine, Saints Row the Third and WWE 12.
One franchise that will be affected, though, is MX Vs. ATV. Following the release of the moderately entertaining (but small selling) MX Vs. ATV Alive, the company has announced that it has "decided not to actively pursue further development of the MX vs. ATV franchise at this time." Whether it will come back or not is hard to say...but right now it isn’t looking too good.
We wish those who have lost their jobs over this situation the best of luck in getting quickly reemployed.
[SOURCE]