Todd Spangler NY Digital Editor Epic Games is slashing its workforce by 16%, laying off about 830 employees, as it looks to cut costs and put the Fortnite maker on viable financial footing.
The cutbacks were announced in an internal memo from Epic CEO Tim Sweeney. In addition to the layoffs, the company is selling Bandcamp the music store and community platform it acquired in 2022, and will spin off most of SuperAwesome, the kids’ digital marketing company Epic bought in 2020. “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, Sweeney continued, “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.
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