Epic Games cuts 1,000 jobs as Fortnite 'magic' fades in 'extreme' market conditions [FOX Business Network]
Electronic Arts Inc. (EA)
Last electronic arts inc. earnings: 1/30 04:01 pm
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Source: FOX Business Network
Epic Games announced layoffs of 1,000 employees Tuesday, citing declining Fortnite engagement "We've had challenges delivering consistent Fortnite magic with every season," CEO Tim Sweeney admitted in a memo to staff. "Today we're laying off over 1000 Epic employees," the memo began. "I'm sorry we're here again. The downturn in Fortnite engagement that started in 2025 means we're spending significantly more than we're making, and we have to make major cuts to keep the company funded." Sweeney's memo also noted broader weakness in the video-game industry weighing on the company's finances. 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," according to Sweeney. 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 se
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- Private credit is bruised, not broken [Yahoo! Finance]Yahoo! Finance
- ‘Fortnite' video game maker lays off over 1,000 workers [Yahoo! Finance]Yahoo! Finance
- Epic Games lays off 1,000 employees, citing dip in 'Fortnite' popularity [Yahoo! Finance]Yahoo! Finance
EA
Earnings
- 2/3/26 - Miss
EA
Sec Filings
- 3/26/26 - Form SCHEDULE
- 3/17/26 - Form 4
- 3/17/26 - Form 4
- EA's page on the SEC website