Is Epic Games Going Out Of Business 2024?

Epic Games Is Laying Off 800+ People

Very recently, Epic Games, the maker of Fortnight and Unreal engine, announced that they will be laying off 16% of its workforce; that’s about 830 employees.

Epic Games Is Laying Off 800+ People

Out of the 830 employees, two-thirds form a team that is outside of core development.

Why Is Epic Games Laying Off People?

In a letter to their employees, Tim stated that they have been spending way more than their earnings for a while now. They have invested a lot of money in Epic and in growing Fortnite as a metaverse-inspired ecosystem.

Why Is Epic Games Laying Off People?

Sweeney also mentioned that they have been trying to reduce costs by cutting costs on marketing and zero hiring, but in spite of this, they are unable to make ends meet.

Will There Be More Lay Offs?

As per the information available on Epic Game’s website, they will not be laying off more people.

What Will Epic Games Do Next?

Epic Games confirmed that they will be focusing on shipping their succeed initiatives & they would be spinning off most of SuperAwesome and will divest from Bandcamp.

Is Epic Games Going Out Of Business?

Epic games made a gross profit of $1.19 billion in 2021, which shows a decline of -28.74% from the prior year. In the past few years, Epic’s gross profit has gone down considerably.