Massive Layoffs At Epic Games

Epic Games CEO Tim Sweeney announced layoffs of over 1,000 employees, attributed to declining Fortnite engagement, industry-wide slowdowns, and costs from legal battles with Apple and Google. The cuts represent roughly 20-25% of Epic's workforce. Severance includes at least four months of base pay, six months of health coverage in the US, and accelerated stock vesting. Epic plans to focus on Fortnite seasonal content and accelerate development toward Unreal Engine 6. The layoffs follow a similar round in 2023 when 830 employees (16% of staff) were let go.