Epic Games Cuts About 1,000 Jobs Across Company Amid ‘Fortnite’ Slump
CEO Tim Sweeney says market conditions are the “most extreme” in years.
Epic Games Inc. is cutting more than 1,000 jobs across the company amid a downturn in engagement with the online video game Fortnite over the past year.
“We’re spending significantly more than we’re making, and we have to make major cuts to keep the company funded,” Chief Executive Officer Tim Sweeney said in a blog post on Tuesday. “This layoff, together with over $500 million of identified cost savings in contracting, marketing, and closing some open roles puts us in a more stable place.”