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Midway Cuts

Develop reports that over sixty employees at Midway’s Chicago-based HQ have been given notice, and will leave the company by early September. Word is:

The situation at Midway’s Chicago HQ is different to that of the dev offices in the same city. Warner has reportedly offered jobs to 100 staff members at the Chicago-based developer.

HQ staff – which include CEO Matthew Booty – have been give two months’ notice. The employees affected represent around 20 per cent of Midway’s remaining workforce, an SEC filing stated.

Warner’s buyout has allowed Midway to write off around $30 million in development costs and about $76 million in debt. Studios not tied in to the Warner buyout are facing similar outcomes.

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