**Epic Games Cutting 16 Percent of Its Workforce**

According to Bloomberg's Jason Schreier, Epic games is laying off 16 percent of its current workforce, which amounts to almost 900 employees losing their jobs. Kotaku reports: A memo was shared this morning at the North Carolina company, seen by Kotaku, informing staff of the bad news. It explains that alongside 16 percent of staff being laid off, the company is also selling Bandcamp, and "spinning off" most of marketing company SuperAwesome.

"For a while now, we've been spending way more money than we earn," says the memo, sent to staff by CEO Tim Sweeney. "I have long been optimistic we could power through this transition without layoffs, but in retrospect I see that this was unrealistic." It seems that Fortnite's failure to continue growing was part of the problem. Sweeney reports that it's "starting to grow again," but this is driven by creator content "with significant revenue sharing."

Despite efforts to reduce spending, Sweeney says "we still ended up far short of financial sustainability." These layoffs, he hopes, will "stabilize our finances." "Laid-off Epic employees will receive six months severance and health benefits," Schreier said on X, adding that an "all-hands meeting \[is\] happening shortly." Further reading: Apple Asks Supreme Court To Reverse App Store Ruling Won by Epic

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