Saint's Row publisher THQ reports US$ 192 million loss, 600 layoffs planned

Posted Feb 5, 2009 at 2:58AM EST by QJ Staff

Listed in: News Tags: Brian Farrell, Nintendo, THQ, WWE, WWE Smackdown

THQ Faces $192 Million Loss, Plans 600 Layoffs - Image 1

A rumor spread a few days ago that THQ finally folded after months of struggling to keep above water. The rumor was wrong, but from the looks of it, it probably won't be long before it becomes true. Their latest financial numbers show a US$ 192 million loss, and the Saints Row publisher is now planning to reduce their headcount by 600.

All in all, THQ's share price fell 80% from last year. Despite the heavy losses though, the company seems optimistic, with CEO Brian Farrell saying:

Established franchises like Saints Row and WWE SmackDown vs. Raw, as well as new franchises such as de Blob and Big Beach Sports for the Nintendo Wii, give us confidence in our strategy going forward.

Well, you have to reassure the investors, right? Although they posted high numbers of shipments for their games, they didn't provide actual sales numbers. To date, Saint's Row 2 (360, PS3) shipped 2.6 million units, and WWE SmackDown vs. Raw 2009 (360, PS3, PSP, Wii, DS) has shipped 4 million.

They do have a couple of games lined-up that will hopefully give them some financial reprieve, like Warhammer: Dawn of War II, WWE Legends of WrestleMania, Red Faction: Guerilla, and their Ultimate Fighting Championship games. Unfortunately, these don't have any release dates yet.

Via Gamasutra

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THQ was doing well until they got into this 'Saint's Row' garbage; this is what happens when they cater to teenage white trash.

How much money do you think these people really have?

I wish they'd put some development time in to tasteful games that might actually sell on a proper platform.

The Wii has too much competition on 3rd-party titles; not enough money to be made.

# And the CEO brings much confidence.. — arg 2009-02-06 03:59

WWE is nearing white trash territory as well; no wonder Brian Farrell sold off over 73,000 THQ shares in February 2008.

# Sadly this is true — Master Chef 2009-02-06 12:33

Even tho the first 50 Cent game was terrible, it sold over a million copies. I hold no hope of the new one being any good, but it'll sell just as well.

Where did 50 Cent go? I hated the lil f*cker, but tons of idiots bought his albums, does he still release stuff?

# huh? — NarooN 2009-02-07 14:33

Oh I'm sorry, I was under the impression that Saints Row was an actual fun game. My mistake for buying it and logging in over 200+ hours on it since November. I mean, since I'm not white and trash, obviously I have no business playing it, eh?

Maybe if you did more than just watch a 20 second trailer you'd know the game isn't what you think it is.

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Saint's Row publisher THQ reports US$ 192 million loss, 600 layoffs planned

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