Looks like the economic downturn is going into full swing with a techpocolyse.
Epic Games, which makes Fortnite is getting rid of 16% of its staff, some 870 jobs.
A memo to staff by TIM Sweeney noted that Epic is still “spending way more money than we earn”.
“Layoffs are the only way, and that doing them now and on this scale will stabilize our finances”
“Epic folks around the world have been making ongoing efforts to reduce costs, including moving to net zero hiring and cutting operating spend on things like marketing and events.
“But we still ended up far short of financial sustainability.”