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TechFlow — Epic Games, the developer of Fortnite, has announced it is cutting 16% of its workforce (approximately 830 employees), citing unrealistic expectations about revenue from the metaverse that led to spending far outpacing income.
CEO Tim Sweeney wrote in a memo to Epic Games employees on September 29: "We have concluded that layoffs are the only option, and making these cuts now at this scale will stabilize our financial position."
Epic Games, the developer of Fortnite, has announced it is cutting 16% of its workforce (approximately 830 employees), citing unrealistic expectations about revenue from the metaverse that led to spending far outpacing income. In a memo sent to employees on September 29, CEO Tim Sweeney wrote, "We have concluded that layoffs are the only way forward, and doing so now at this scale will stabilize our financial position."
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