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.

---

Related Articles:

• Analysts lay the smackdown: THQ franchises slump, WWE, Saints Row, SpongeBob
• Electronic Arts: Godfather II delayed, even more layoffs planned