Midway Fires 20% Of Workforce, Including CEO, Ahead Of Sale

Now that Warner Bros. owns Midway, there's not much need for Midway's corporate offices in Chicago. Warner Bros.' offices can handle that sort of stuff just fine. So all 60 employees there have been laid off.

As per the Worker Adjustment and Retraining Notification Act, the employees were given 60 days notice on Monday. Those among the casualties include Midway Chief Executive Matthew Booty, along with "other senior executives".

These cuts aren't related to Midways' Chicago development studio, where 100 employees have been offered jobs at Warner.

For reference, the 60 employees given notice constituted 20% of Midway's entire workforce.

Midway Games lays off all 60 at corporate office [Chicago Tribune]


Comments

    Is it just me or is this Mathew Booty guy the smartest guy on the planet?, he buys midway for 100k and a few months later sells half of it to WB for 33 million

      Your comment reminds me of Nicholas Bolton (had to look up his name), that 27 year old dude who a lot of people probably hate right now.

      From my understanding BrisCon were selling shares in instalments, where you buy one share for $1 and then would have to eventually pay another two $1 instalments on it later. Somehow their first instalment price dropped to 0.1c, whilst the others didn't, so anyone who bought a 0.1c share still owed $2 later. No one of course reads the fine print, except for Nicholas Bolton that is. He proceeded to call a unitholder's meeting to try and vote down having to pay the second two instalments and got a lot of support from the other unitholders for that. That is until he sold his voting rights back to BrisCon (well not BrisCon per se, but basically back to the interested parties) for $4.5 million at the last minute (his plan all along), scuttling the vote and leaving everyone very unhappy. Then he passed on his shares to someone else and rode off into the sunset and lived happily ever after. The End.

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