Epic Games Announces Layoffs Impacting 830 Employees Amid Financial Restructuring
According to Bloomberg, Epic Games, the developer behind Fortnite, is set to lay off approximately 16 percent of its workforce.
Epic Games Announces Layoffs Impacting 830 Employees Amid Financial Restructuring
According to Bloomberg, Epic Games, the developer behind Fortnite, is set to lay off approximately 16 percent of its workforce. The layoffs will affect around 830 employees, as confirmed in a statement from Tim Sweeney, Epic's CEO. Sweeney stated that the company plans to sell Bandcamp, an independent music storefront it acquired just last year, to music licensing platform Songtradr. Additionally, Epic will spin off SuperAwesome, a "kid-tech" company specializing in creating safe online experiences for children. The layoffs are attributed to the company's financial situation, with Sweeney acknowledging that Epic had been spending more money than it was earning. Notably, Sweeney did not offer an apology to the affected employees but mentioned that his optimism about avoiding layoffs due to overspending had been unrealistic. There had been prior rumors of potential layoffs at Epic Games, particularly as the company sought investment. Speculation suggested that layoffs c…
