Published on February 2nd, 2012 | by Niko0
More THQ Drama. Pay Cuts and Layoffs Continue….
If you thought things couldn’t get any worse for THQ, today’s news is going to be unpleasantly surprising. THQ has officially laid off 240 employees. To top that off, the company’s president and CEO Brian Farrell will be losing over half of his salary taking him from $718K a year down to $350K a year.
This further proves the rumors and speculation that THQ is on the way out. Recently, THQ was sent a nice letter informing the company that if they don’t get their market share value over $1, they will be removed from the NASDAQ listing. They have only until January 23rd to reach that goal. They will have to hold $1 for 10 consecutive days. They are currently at .70 and falling. With all of these recent issues to strike the company, that doesn’t seem likely. They also closed down THQ Japan in the wake of their falling company.
THQ has had a rocky 2010-2012 as a whole. While a few great games came around, there were many more that have done the company in. Sure, we saw Darksiders, Homefront, WWE 12, and Saints Row: The Third. Really, those are the big names that you have heard of. There are plenty of others that you may have not heard of. There was the failed uDraw Game Tablet and it’s sizeable library of games including Pictionary, Marvel Super Hero Squad: Comic Combat, Spongebob Squiggle Paints, and so on. None of which ever gained their foothold on any platform.
The real question is not so much about the company, but what about the games that were slated to release in 2014? The rumors have been going around that THQ has cancelled their releases for that year. They have been gaining more steam as the writing on the wall is beginning to mount up. The rumor comes as even more of a blow to those who have been waiting on pins and needles for Warhammer 40K: Dark Millennium. It is supposed to be one of the more successful MMORPG games to hit the table. That was the most important title so far that has been singled out. Are more games to follow? Will this bleed into 2013 and possibly 2012? We are expecting Saints Row 4, Darksiders 2, WWE 13, and many more. While they may not be shelved, will they be sold off? Those are questions we hope can be answered from THQ themselves, outside of rumors and speculation.