Epic Games to cut more than 1,000 jobs as Fortnite usage falls [BNN Bloomberg (Canada)]
Electronic Arts Inc. (EA)
Last electronic arts inc. earnings: 1/30 04:01 pm
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Source: BNN Bloomberg
The cuts, along with more than $500 ?million in savings from lower contracting and marketing spending and unfilled roles would put the company in “a more stable place,” Chief Executive Tim Sweeney said in a note to employees. The cuts are the latest ?in the gaming sector, ?where companies have faced weaker growth as consumers have been sticking with proven titles amid economic uncertainty. But even ?those, especially live services games, which depend on a steady stream of new content to keep players engaged, are now showing signs ?of cracks. “We've ?had challenges delivering consistent Fortnite magic,” ?Sweeney said, adding “market conditions ?today are the most extreme” since the early days of the company founded in 1991. “The layoffs aren't related to AI,” Sweeney noted amid industry worries the technology could replace video-game developers. The move marks Epic's second major round of layoffs in three years. In September ?2023, the company cut about 830 jobs, ?or roughly
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