In an effort to reduce their cost structure, Midway Games has announced that they'll be laying off 25% of their global workforce, closing down their Austin-based studio and canceling several unannounced "non-core" games, which were previously scheduled for release in 2010/2011. Here's a little snippet from the press release:
"The cost-reduction measures are vital for us to rationalize our operations and provide the resources necessary for our core properties to succeed," said Matt Booty, president and CEO of Midway. "These initiatives, along with the other steps we have taken this year, are a response to the 2196 specific challenges we are facing at Midway, many of which have been amplified by the current economic conditions."
Hate seeing people get fired during the Holidays, but with the recent sale of Midway, I think we all saw this coming. :(
