Court Approves THQ Employee Severance, As Long as They Sign Antidefamation Clause

While the bankruptcy at THQ has caused us, as gamers, to question what will happen to some of our favorite franchises in the future, it’s been easy to overlook the people at THQ. A source, under condition of anonymity, has told PSLS directly that the bankruptcy court in Wilmington, Delaware has authorized a compensation and benefits agreement for former THQ employees, who will receive severance and benefit extensions, something that is confirmed by court documents. This means that many of the workers from the former video game publisher will now receive some financial compensation as a result of the company’s bankruptcy filing. - PSLS

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TrendyGamers1900d ago

At least the employees get something.

decimalator1900d ago

Here is what they want to hide - thq was poorly managed.

Why is it that people are so afraid of coming out and saying, yeah we totally fucjed that up. sorry, my bad. hiding behind legal smoke screens like this just tells us what we already know.

dbjj120881900d ago

Jason Rubin and the management team did everything they could and fully admitted on several occasions to the gravity of the situation... And when they found a buyer that would allow them to resume business as planned and stay out chapter 7, the stock owners sued to break the company up piece by piece and sell it off to make more money for their pockets.

The people who collectively owned THQ are the people you're looking for. Rubin was looking to mature the portfolio of IP and franchises, but all the shareholders were in it for the easy cash the company made cranking out Spongebob games.

doctorstrange1900d ago

Rubin probably shouldn't have delayed games that would have make money before they went bankrupt and instead have them come out after...

burn1n9m4n1900d ago

To be fair, I think it's important to note that Jason Rubin had very little, if any, effect on the bankruptcy at THQ. He joined the company when the wheels were already in motion. The delays were probably the result of ownership issues that had yet to be resolved by the courts after the company declared bankruptcy. As such, the on-going legal issues were probably to blame for the delays while those issues were ironed out.

In any case, the article isn't meant to assign blame. It's supposed to be a human interest piece focusing on those who lost their jobs, and something positive that is going to happen to them in light of the bankruptcy.

doctorstrange1900d ago

Well he did turn Saint's Row III DLC into SRIV, when it would have come out ahead of them needing to declare bankruptcy and help with the $100mil loan they couldn't repay

burn1n9m4n1900d ago

Yeah, but the amount of money that that DLC would have made for THQ would've been equivalent to a drop in the bucket, and more than likely would've prolonged the inevitable. Especially when you consider how much money the UDraw tablet ended up costing THQ.

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