Midway Austin Project Canned, Confirms Layoffs
Posted by x3sphere at August 11, 2008, 7:00 pm
And so, Midway’s financial woes continue. Today the company formally announced that it has canceled an “as-yet-unannounced” project in development at its Austin, Texas-based studio.
In further bleak news, as part of an ongoing initiative to “maximize its development resources and apply manpower and capital to projects with the highest chances of success,” approx. 90 of all 130 employees employed by the studio will be laid off.
Matt Booty, interim CEO and president of Midway Games Inc. commented, “While this was a very difficult decision, we feel it was the right thing to do for the future of Midway. We view every game as an investment that must meet certain standards for quality, scheduling, and profitability. Midway remains committed to producing the highest quality entertainment, as evidenced by our strong holiday line-up which includes TNA iMPACT!, Blitz: The League II, and Mortal Kombat vs. DC Universe starring a team of MK characters and some of the most recognizable DC Comics personalities such as Batman, The Joker, and Superman.”
Strong holiday line-up? Honestly, they’d be in deep trouble if it weren’t for Mortal Kombat, which thankfully for them is almost guaranteed to sell well based on the inclusion of DC characters alone.
Read more: Rumor: Mortal Kombat Development Team Leaving Midway, Midway Announces Mortal Kombat vs. DC Universe, Warner Bros Makes $33 Million Bid for Midway, Warner Bros Sets Acquisition Sights On Midway, Booty Promoted, Now Midway CEO
They have a big hole in their boat and no body can find it. and the boat is going down fast. From what I've read and heard there's no really new ideas.
Games are like carnival rides, the guy that comes up with one that does more than just go up, down and around will make a kazillion dollars, but it's just not out there yet.