Fortnite developer Epic Games cutting over 1,000 jobs. Here's why. [Yahoo! Finance]
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Source: Yahoo! Finance
“We're spending significantly more than we're making, and we have to make major cuts to keep the company funded,” Epic Games CEO Tim Sweeney said in a Tuesday, March 24 blog post . “This layoff, together with over $500 million of identified cost savings in contracting, marketing, and closing some open roles, puts us in a more stable place.” In the same blog post , Sweeney said the challenges Epic Games is encountering are visible across the entire video game industry, amid rising competition, weaker consumer spending, and slower console sales, among other issues. “Despite Fortnite remaining one of the most successful games in the world, we've had challenges delivering consistent Fortnite magic with every season,” he continued Here is what to know about the job cuts. This illustration picture shows a person logging into Epic Games' Fortnite on their smartphone in Los Angeles on August 14, 2020. Not the first round of layoffs This is the second major round of layoffs in thr
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