Subcathoin

Rumored massive layoffs are hitting Saints Row and Warhammer game developer THQ this week as the company fights to stave off a Wall Street delisting spurred by rock-bottom stock prices.

THQ’s vice president of technology Mark DeLoura is no longer with the company, according to an automatic response sent back from DeLoura’s email address this morning.

Rumblings of layoffs hit earlier this morning when IDGA chairperson Kevin Dent tweeted that THQ was facing more than 170 layoffs including DeLoura. Tuesday, THQ notified investors that they have until July 23 for their stock value to rise to at least $1 a share or face a Wall Street delisting. If the value remains at $1 or higher for at least ten days it will reset the clock on a delisting. THQ’s stock was listed at $0.66 a share this morning, down from $0.70 yesterday.

Earlier in the year, Dent theorized that THQ had canned all of its in-development games for 2014 and beyond. THQ later denied that.

THQ still says it is working on a number of games including a Southpark role-playing game, a new Darksiders and a game directed by Guillermo del Toro.

A bulk of those games are in development by third-party developers including 4A, Ilfonic, Obsidian and Tomonobu Itagaki’s Valhalla Game Studios.

I’ve reached out to THQ for confirmation on the number of layoffs and how those cuts will impact in-development games.