""We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," said CEO Tim Sweeney."
""We've had challenges delivering consistent Fortnite magic," Sweeney noted, adding, "market conditions today are the most extreme since the early days of the company's founding in 1991.""
""The layoffs aren't related to AI," Sweeney noted, amid industry fears that the technology could replace developers."
Epic Games is cutting more than 1,000 jobs following a decline in engagement with Fortnite. The company plans to save $500 million by reducing spending on contracts and marketing. CEO Tim Sweeney stated that the company is spending more than it earns and must make significant cuts to remain funded. Despite Fortnite's previous resilience, engagement has dropped, particularly for live-service games. This marks Epic's second major layoff in three years, following a previous cut of about 830 jobs in September 2023.
Read at www.cbc.ca
Unable to calculate read time
Collection
[
|
...
]