The G4TV.com article follows:
It seems that we can’t go three days (at most) without hearing some bad news from Midway. Today the company laid off 25 percent of its staff and “suspended” all of its 2010/2011 projects. Several of the company’s projects are supposedly for sale too, with only a handful safe for a 2009 release. Variety’s Ben Fritz reports:
“The only projects still definitely in the works for 2009 are Wheelman, which comes out in February, a TNA Wrestling sequel, and open world game This is Vegas, though I have heard from sources that the latter is nowhere close to finished, so I wouldn’t expect it before the second half of next year.”
Midway has a huge debt over its head, is being thretened with NYSE delisting, and is struggling to claw its way out of its troubles. On the plus side, the Mortal Kombat team is safe, with Mortal Kombat vs. DC Universe being an early success. However, watching the company is getting to be…difficult. Like many of you, I’ve been entertained by tons of Midway games and it’s sad watching the once great company crumble.