Epic Games Announces Layoffs and Bandcamp Divestment
TL;DR Summary
Epic Games, the maker of popular video game "Fortnite," is laying off approximately 830 employees, which accounts for 16% of its workforce, and divesting online music platform Bandcamp. The company will also spin-off most of SuperAwesome, a platform it acquired in 2020. CEO Tim Sweeney cited lower margins in the creator content-driven growth of "Fortnite" as a reason for the layoffs. The video game industry is facing a slowdown in spending, and legacy publishers are competing with new entrants like Warner Bros Discovery. Epic Games has been engaged in a legal battle with Apple over App Store rules.
- Epic Games is laying off about 830 employees, divesting Bandcamp Reuters
- Epic Games Is Cutting About 900 Jobs, or 16% of Staff Bloomberg
- Epic Games is eliminating 16% of its workforce and selling Bandcamp CNBC
- Fortnite Maker Epic Games Laying Off 830 Employees IGN
- Epic Games Cutting 870 Jobs, 16 Percent Of Its Workforce Kotaku
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