Epic Games Layoffs: Fortnite Maker Cuts 16% of Staff

Posted on by Startup ERA

  • Epic Games, the developer of Fortnite, recently announced layoffs affecting about 900 employees, amounting to 16% of its workforce.
  • These layoffs are attributed to the company’s unfulfilled metaverse ambitions, which have resulted in financial losses.
  • Epic Games CEO Tim Sweeney’s focus on building a virtual metaverse and revenue-sharing initiatives led to financial strain, despite Fortnite’s success.
  • Legal battles with Apple, stemming from Epic’s challenge to App Store payment guidelines, further drained the company’s resources.
  • Affected employees will receive a severance package, but these layoffs reflect the consequences of the company’s ambitious yet costly strategic decisions.
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