Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
September 29, 2016
arrowPress Releases
September 29, 2016
PR Newswire
View All

If you enjoy reading this site, you might also want to check out these UBM Tech sites:

Report: Midway Austin Sees Significant Layoffs
Report: Midway Austin Sees Significant Layoffs Exclusive
August 11, 2008 | By Leigh Alexander, Staff

August 11, 2008 | By Leigh Alexander, Staff
    Post A Comment
More: Console/PC, Exclusive

Following last week's executive departures at Midway, Midway's Austin office (Blacksite: Area 51) has seen significant layoffs, multiple independent sources have told Gamasutra.

The layoffs occurred late last week following the departure of Midway executives including Chicago studio head Mike Bilder, marketing vice president Mona Hamilton and media relations VP Reilly Brennan.

The level of churn has increased in recent months at Midway, which has struggled with profitability after expensive next-gen technology transitions, and has had some notable sales underperformances -- including Blacksite.

These most recent changes have come after similar issues in January, where Midway also admitted to a "routine reduction" in staff at Midway Austin -- apparently smaller than this round. An earlier round of executive resignations at that time saw the departure of marketing VP Steve Allison and VP, CFO, and treasurer Thomas Powell.

The company's financials are not much improved in recent quarters -- Midway recently reported a $34.8 million net loss for its second fiscal quarter, with revenues falling 26 percent year over year from $31.8 million to $23.4 million.

But the company, which has moved key titles Wheelman and This Is Vegas into 2009, is still holding out hope that its technology investments -- showcased in games such as Stranglehold -- will pay off.

Gamasutra has contacted Midway representatives for comments, but had not heard back as of press time. Midway's shares are currently trading at $2.84, significantly below a 52-week high of $6.48.

Related Jobs

Digital Extremes
Digital Extremes — Costa Mesa, California, United States

PR Manager
Idol Minds
Idol Minds — Westminster, Colorado, United States

Character Artist - Cinematics
Skydance Interactive
Skydance Interactive — 90292, California, United States

VFX Artist
Skydance Interactive
Skydance Interactive — Marina Del Rey, California, United States

UI/UX Artist

Loading Comments

loader image