Epic Games is laying off 16% of its workforce, it’s been revealed.
It’s been revealed that the Fortnite developer Epic Games is laying off 16% of its workforce. Around 830 employees will be affected.
The announcement was made in an email from founder and CEO Tim Sweeney to staff today, shared publicly on the Epic Games website, in which he stated that the company has “concluded that layoffs are the only way”.
“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,” Sweeney wrote. “I had long been optimistic that we could power through this transition without layoffs, but, in retrospect, I see that this was unrealistic.
“While Fortnite is starting to grow again, the growth is driven primarily by creator content with significant revenue sharing, and this is a lower margin business than we had when Fortnite Battle Royale took off and began funding our expansion,” he continued.
