Epic Games Layoffs
September 2023
Epic Games announced a layoff affecting 870 employees (16% of its workforce) in September 2023. The company operates in the Consumer sector.
870
16%
Sep 28, 2023
About
Epic Games, the creator of Fortnite, announced layoffs on September 28, 2023, cutting 16% of its workforce, which affects approximately 870 employees. The company, operating in the video game and technology industry, made this decision after acknowledging it had been spending significantly more than it earns while investing heavily in expanding Fortnite into a metaverse ecosystem. CEO Tim Sweeney stated that despite prior cost-cutting measures like a hiring freeze and reduced marketing, the financial situation remained unsustainable, necessitating these layoffs to stabilize the company. Concurrently, Epic is divesting Bandcamp and spinning off most of SuperAwesome to streamline operations. The layoffs primarily impact teams outside core development, with the company aiming to maintain focus on key projects like future Fortnite seasons while striving for long-term profitability and leadership in the metaverse space.
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