Cuts come despite billions in investment in Epic in the last two years.
Sweeney said two-thirds of the cuts are outside the company's core businesses and said Epic will focus on more Fortnite content and projects codenamed: Del Mar, Sparks and Juno.Sweeney blamed the cuts on unrealistic growth expectations at the privately held company.
"For a while now, we've been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators. "I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic."Epic seldom releases monthly active user stats, but Fortnite remains one of the world's most played games according to store rankings on game consoles.
Its game creation technology, the Unreal Engine, is one of the most widely used in the industry, behind just below rival Unity, which itselfthat lets Fortnite users create new experiences in the game, as it pursues a Roblox-style model of enticing users to create the content that will entertain the rest of its audience., Fortnite's in-game currency, due to inflation, among other factors. 2,800 V-Bucks will cost $22.99 starting in October, up from $19.99.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 Layoff Tracker: Epic Games Cutting 900 EmployeesLayoffs continue apace after more than 136,000 employees were cut by major U.S. companies in the first quarter of 2023.
Read more »
Epic Games Will Reportedly Be Laying Off 900 EmployeesIn some grim news coming from Epic Games, the company has decided to lay off 16% of their workforce without any specific reason cited.
Read more »
‘Fortnite’ maker Epic Games laying off 16% of workforceEpic Games, owner of the insanely popular “Fortnite,” announced that it will fire 16% of its employees, affecting 870 people.
Read more »
'Fortnite' maker Epic Games cuts 16% of staff after 'spending way more money than we earn'Epic Games, the video game developer behind the popular online game “Fortnite,” is laying off 830 employees, the company announced Thursday. The company is also divesting Bandcamp.
Read more »
Epic Games cuts around 830 jobsThe Fortnite developer is reportedly cutting 900 jobs.
Read more »
Fortnite Developer Epic Games Axing 16% of Staff, Laying Off 830 Employees, and Sells BandcampEpic Games is slashing its workforce by 16%, laying off about 830 employees, as it looks to cut costs.
Read more »