Epic Games lays off 830 staff, citing ‘unrealistic’ metaverse ambitions By Cointelegraph
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Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning.
“We concluded that layoffs are the only way and that doing them now and on this scale will stabilize our finances,” wrote CEO Tim Sweeney in a Sept. 29 memo sent to Epic Games staff.
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Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning.
“We concluded that layoffs are the only way and that doing them now and on this scale will stabilize our finances,” wrote CEO Tim Sweeney in a Sept. 29 memo sent to Epic Games staff.
Continue Reading on Coin Telegraph
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