SEC FILING FOR CULL
Copyright 2005 www.tombraiderchronicles.com
[ December 20th 2005 ]
Games, the U.S. publisher linked to a potential
purchase of SCi
Entertainment Group, has placed a filing with
the SEC which confirms an 11% cull in its workforce,
notes this afternoon.
states that the company is committed to a plan
to reduce the company's cost structure and increase
product development synergy and efficiency. Midway
now expects to incur pre-tax charges of USD 13
million as a result of the job cuts but states
it intends to continue to grow its internal product
development employee base in 2006.
Group, who purchased British rival Eidos plc in
May 2005, confirmed an approach from several suitors
in October 2005 with analysts predicting Midway
Games has the most to benefit from an acquisition.