Epic Games Terminates Nearly 1,000 Employees

Web DeskOctober 1, 20236282 min
Epic Games Terminates Nearly 1,000 Employees

Epic Games is facing several setbacks, including a decline in Fortnite’s popularity, an unfavorable legal outcome in its battle with Apple, and challenges with the Epic Games Store. In response, the company has decided to downsize its workforce by laying off approximately 870 employees, which accounts for 16% of its total workforce.

Additionally, Epic Games plans to divest itself of Bandcamp, an online music distribution platform it acquired last year. The company also intends to sell a significant portion of SuperAwesome, a firm specializing in child-safe technology.

Also Read: Over 2000 Fired Employees Await Payment from Elon Musk

In a message to Epic Games employees, CEO Tim Sweeney explained that the company had exceeded its earnings and was taking these measures to sustain its growth. Sweeney emphasized that while the company had tried to reduce operational costs, staff reductions had become necessary to ensure financial viability.

The decision to sell Bandcamp and a significant portion of SuperAwesome is part of Epic Games’ strategy to improve its financial position. Bandcamp will join the music market company Songtradr, while SuperAwesome’s advertising division will continue to operate independently.


Share This Post

News Guru

WEb logo-04 (1)

We strive to bring you the most comprehensive and up-to-date news from reliable sources. Our team of experienced journalists and writers are committed to delivering unbiased and factual news, with the highest levels of professionalism and integrity.

News Guru, 2024 © All Rights Reserved