Epic Games Is Cutting About 900 Jobs, or 16% of Staff - Bloomberg
Epic Games Inc., the maker of the popular Fortnite video game, is laying off 870 employees as it seeks to rein in costs.
“For a while now, we’ve been spending way more money than we earn,” Chief Executive Officer Tim Sweeney wrote in a memo to employees seen by Bloomberg News. “I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see this was unrealistic.”
The job cuts will affect about 16% of the workforce, according to people familiar with the matter, who asked not to be named disclosing information that’s not yet public. Epic didn’t immediately reply to a request for comment.
Fortnite maker Epic Games to cut nearly 900 jobs, 16% of workforce
What they’re saying: Sweeney blamed the cuts on unrealistic growth expectations at the privately held company.
"For a while now, we’ve been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators.
“I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic.”
Epic Games Lays Off Over 800 Employees - Game Informer
Epic Games has announced it is laying off roughly 16 percent of its workforce, resulting in around 830 employees losing their jobs.
Layoffs at Epic - Epic Games
As we shared earlier, we are laying off around 16% of Epic employees. We’re divesting Bandcamp and spinning off most of SuperAwesome.