Feb 1, 2012

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THQ In Serious Financial Trouble

THQ In Serious Financial Trouble

According to Eurogamer, THQ is reportedly getting ready to announce the layoffs of at least 170 of its personnel.

Industry insider Kevin Dent, in a conversation that took place on Twitter stated, “This is probably going to break in the morning, I have sat on it for a week or so. The culling at THQ was 170+ souls including Mark DeLoura.”  DeLoura is the current VP of technology at THQ.

While the layoffs have yet to be confirmed, the fact that the NASDAQ stock exchange recently threatened THQ with a de-listing does lend credibility to Dent’s claims.  NASDAQ made the threat after THQ had failed to keep its share values over one dollar for 30 days.  To remain in the exchange, the company has 10 days to trade above one dollar.

It was also Dent who released information regarding the cancellation of THQ titles in 2014 and beyond.  THQ has since denied that rumor however.

THQ’s earning call is Thursday at 5:30 P.M. EST so new information can be expected then.

[Source: Eurogamer, Kevin Dent Twitter]