Epic Games recently announced that it would lay off 830 people, accounting for 16% of its employees.
Note: Epic CEO Tim Sweeney said in a memo to employees that the company’s expenses have exceeded the revenue generated by the “Fortnite” game. Before the decision to lay off employees, the company tried various cost-cutting efforts, but ultimately “was unable to achieve financial sustainability” and therefore had no choice but to choose layoffs.
Tim Sweeney said layoffs were the only way to stabilize the company’s finances. Employees will receive a severance package that includes six months of base salary and six months of paid health care.
As for the fight with Apple, Tim Sweeney claimed that Epic Games is taking steps to reduce legal costs but will continue the legal fight so that the Metaverse can thrive and bring opportunities to Epic and all other developers.
