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[Update: THQ confirmed in a filing that it is cutting 240 jobs.]
Game publisher and developer THQ is set to announce their financials on Thursday. However, reports surfaced today of layoffs at the company, in addition to previously announced cutbacks.
The publisher appears ready to lay off more than 170 employees as well as THQ’s VP of technology, Mark DeLoura. The original report comes from Kevin Dent, who posted the following message on Twitter:
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 @markdeloura
Dent then wrote “A smart journalist would send THQ’s VP of Tech Mark DeLoura an email and see what the auto-reply says,” to which DeLoura replied, “Hey, that’s cheating.”
VentureBeat contacted THQ and they declined to comment on the layoffs and gave no information other than a reminder that an earnings call is set for tomorrow.
Despite concern, some analysts believe that THQ may be okay in the longterm as they have cancelled projects and cut costs. Wedbush Securities analyst Michael Pachter recently told VentureBeat that the publisher is likely to run out of cash by June or earlier, unless they take the necessary steps.
THQ is also facing a possible Nasdaq delisting if they can’t bring their share prices above $1 for ten consecutive days. THQ’s stock is currently at .70 per share as of the time of this writing.