‘Fortnite’ Maker Epic Games Is Cutting About 16% of Staff
- Company was ‘spending way more than we earn,’ CEO said in memo
- Fortnite Creator content program is ‘lower-margin business’
Epic Games Inc., the maker of the popular Fortnite video game, is laying off 870 employees as it seeks to rein in costs.
“For a while now, we’ve been spending way more money than we earn,” Chief Executive Officer Tim Sweeney wrote to employees in a memo seen by Bloomberg News. “I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see this was unrealistic.”