Epic Games is laying off 16% of its staff

According to Gaming Bolt , 2023 saw a massive wave of layoffs in the gaming industry, and another major company has now joined that list. According to a Bloomberg report, Epic Games, the company behind Fortnite and the popular Unreal Engine, is laying off 16% of its workforce, or approximately 830 employees.

Epic Games is laying off 830 employees.

Bloomberg journalist Jason Schreier shared on Twitter that in an internal email, CEO Tim Sweeney stated that Epic had spent more money than they earned. In addition, lower-than-expected profit margins from Fortnite were also a contributing factor. However, the company is still looking to fill vacant positions and has no plans for further layoffs.

Schreier also reported that alongside these layoffs, Epic Games is divesting from two previously acquired companies: the music company Bandcamp, acquired last year, and the marketing firm Songtrader, while the marketing company SuperAwesome will be spun off to operate as an independent entity.

Earlier this month, it was announced that Donald Mustard would be stepping down as creative director at Epic Games. The position is being filled by Charlie Wen, a renowned name in game design with over 20 years of experience. In 2001, he founded and led the visual development team at Sony Computer Entertainment on the God of War series, creating one of the most iconic characters in video game history, Kratos.

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