Ballooning losses and sluggish game sales forced THQ to shed four studios late last year, and now there are three more on the block. First up is Big Huge Games, the role-playing game-focused studio it acquired about a year ago. Julie MacMedan, the company’s VP of investor relations and corporate communications told Crispy Gamer that it would pull the plug on Big Huge if it couldn’t find a buyer in the “near future.” THQ (NSDQ: THQI) is also spinning off two other studios: Incinerator and Heavy Iron Studios, both based in California.

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The cuts are part of the company’s plan to save roughly $220 million by the end of its fiscal year 2010, and this latest round of spin-offs will leave it with eight studios worldwide (including Volition, the studio behind Saint’s Row). Last month, CEO Brian Farrell assured investors that the company would still be able to put out high-quality games despite the staff reductions.