Epic Games is laying off 16% of its staff

According to Gaming Bolt , 2023 is shaping up to be a year of massive layoffs in the gaming industry, and another major company has now joined the list. According to a report published by Bloomberg, Epic Games, the company that makes the popular Fortnite game and Unreal Engine, is laying off 16% of its workforce, or about 830 employees.

Epic Games is laying off 830 employees

Bloomberg reporter Jason Schreier shared on Twitter that CEO Tim Sweeney said in an internal email that Epic was burning more money than it was making. In addition, lower-than-expected profit margins from Fortnite were also a factor. However, the company is still looking to fill open positions and has no plans for any more layoffs.

Schreier also reported that along with these layoffs, Epic Games is also divesting two companies it previously acquired, including music company Bandcamp, which it acquired last year, and marketer Songtradr, while 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 from his role as creative director at Epic Games. He is being replaced by Charlie Wen, a well-known name in the game design industry 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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