MIDWAY REGISTERS SEC FILING FOR CULL
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[ December 20th 2005 ]

Midway 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, GamesIndustry.biz notes this afternoon.

The filing 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.

SCi Entertainment 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.