Fortnite developer – Epic Games – has confirmed reports about laying off around 16% of its employees, affecting nearly 830 staff members.
Epic CEO Tim Sweeney said the company has been working towards reducing costs across the globe, including its transition to “net zero hiring and cutting operating spend on things like marketing and events.” However, Epic has been significantly short of financial sustainability, forcing the company to resort to layoffs in a bid to “stabilize” the finances.
‘Unrealistic’ Metaverse Goals
In a staff email shared on the company’s website, Sweeney admitted to spending “way more” money than the firm earned despite initially being optimistic about its ability to power through the transition without trimming the workforce.
The exec added that the move of growing Fortnite as a metaverse-inspired ecosystem for creators was “unrealistic” in retrospect.
“While Fortnite is starting to grow again, the growth is driven primarily by creat
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