Topics

Posted 9/28/2023, 11:03:45 PM

Epic Games Lays Off 830 Employees Amid Fortnite Growth, Promises Severance

Epic Games CEO announces layoffs of about 16% of workforce, around 830 employees
Company will sell Bandcamp and spin off SuperAwesome, shedding 250 more workers
Layoffs due to Epic spending more than it's earning, despite Fortnite growth
Majority of layoffs are in teams outside of core development
Employees offered severance package with 6 months pay and healthcare
Stock options will vest through 2024, with 2 more years to exercise them
Additional layoffs not planned at this time
Impact on Cary HQ campus plans unclear

abc11.com

Relevant topic timeline:

8/24/2023

T-Mobile to layoff 5,000 employees in 'duplicative' roles

T-Mobile will lay off 5,000 employees, about 7% of its workforce, over the next few weeks in an effort to streamline operations and reduce costs, with impacted roles being mainly in corporate, back-office, and technology departments.

9/28/2023

Epic Games Lays Off Hundreds as Fortnite Profits Decline Amid Industry Slowdown

Epic Games, the maker of "Fortnite," is laying off 16% of its workforce and divesting from Bandcamp, citing lower margins in the creator content-driven growth of the game.

9/29/2023

Fortnite Emote Mocks Layoffs Same Day Epic Announces 900 Employees Let Go

Epic Games faced backlash after laying off 900 employees and then re-releasing a microtransaction in Fortnite, causing criticism and anger among players and former employees.

9/30/2023

Epic Games Lays Off 16% of Staff, Fall Guys Team Impacted But Game Remains Priority

Epic Games lays off 16% of its workforce, including employees from Mediatonic, the developer of Fall Guys, but clarifies that Mediatonic is still intact and its work on Fall Guys remains a priority.

10/2/2023

UK Games Industry Hit with More Layoffs - Team17 Latest to Cut Jobs Amid Difficult Year

UK games industry company Team17 is facing significant layoffs, particularly in its quality assurance department, while also seeing the departure of its CEO, Michael Pattison. This comes after concerns were raised about pay, working conditions, and management failures within the company.

10/6/2023

Telltale Games Lays Off Majority of Staff Due to Market Conditions, Questions Remain About Future Projects

Telltale Games, known for popular episodic games like The Wolf Among Us and The Walking Dead, has laid off a significant number of employees amid financial pressures in the gaming industry, prompting calls for unionization.

10/6/2023

Telltale Games Confirms Layoffs Amid Broader Video Game Industry Job Cuts

Telltale Games, known for popular narrative-driven games like The Walking Dead, has laid off some of its staff due to current market conditions, adding to the growing list of video game industry layoffs this year.

10/6/2023

Epic Games CEO reveals financial struggles led to recent layoffs after relying too heavily on Fortnite revenue

Epic Games CEO Tim Sweeney admitted that the company's recent layoffs were a necessary survival move to stabilize their finances amid financial difficulties and ongoing legal battles, with the company heavily relying on Fortnite's revenue.

10/6/2023

Telltale Games Lays Off Majority of Staff Again, 5 Years After Previous Mass Layoffs

Telltale Games, the video game studio, has laid off employees due to current market conditions, but they are committed to supporting those impacted and continuing development on their ongoing projects. The layoffs are part of a trend of mass layoffs in the gaming industry, leading to increased discussions around unionization.

10/23/2023

Sony Interactive Entertainment Lays Off Staff Across PlayStation Studios Amid Gaming Industry Cutbacks

Sony Interactive Entertainment and PlayStation Studios are reportedly experiencing layoffs, which include staff at PlayStation's Visual Arts studio, as part of the ongoing mass job cuts in the games industry.

Topics

Posted 9/28/2023, 11:03:45 PM

Epic Games Lays Off 830 Employees Amid Fortnite Growth, Promises Severance

Epic Games CEO announces layoffs of about 16% of workforce, around 830 employees
Company will sell Bandcamp and spin off SuperAwesome, shedding 250 more workers
Layoffs due to Epic spending more than it's earning, despite Fortnite growth
Majority of layoffs are in teams outside of core development
Employees offered severance package with 6 months pay and healthcare
Stock options will vest through 2024, with 2 more years to exercise them
Additional layoffs not planned at this time
Impact on Cary HQ campus plans unclear

abc11.com

Relevant topic timeline:

8/24/2023

T-Mobile to layoff 5,000 employees in 'duplicative' roles

9/28/2023

Epic Games Lays Off Hundreds as Fortnite Profits Decline Amid Industry Slowdown

Epic Games, the maker of "Fortnite," is laying off 16% of its workforce and divesting from Bandcamp, citing lower margins in the creator content-driven growth of the game.

9/29/2023

Fortnite Emote Mocks Layoffs Same Day Epic Announces 900 Employees Let Go

Epic Games faced backlash after laying off 900 employees and then re-releasing a microtransaction in Fortnite, causing criticism and anger among players and former employees.

9/30/2023

Epic Games Lays Off 16% of Staff, Fall Guys Team Impacted But Game Remains Priority

Epic Games lays off 16% of its workforce, including employees from Mediatonic, the developer of Fall Guys, but clarifies that Mediatonic is still intact and its work on Fall Guys remains a priority.

10/2/2023

UK Games Industry Hit with More Layoffs - Team17 Latest to Cut Jobs Amid Difficult Year

10/6/2023

Telltale Games Lays Off Majority of Staff Due to Market Conditions, Questions Remain About Future Projects

10/6/2023

Telltale Games Confirms Layoffs Amid Broader Video Game Industry Job Cuts

10/6/2023

Epic Games CEO reveals financial struggles led to recent layoffs after relying too heavily on Fortnite revenue

10/6/2023

Telltale Games Lays Off Majority of Staff Again, 5 Years After Previous Mass Layoffs

10/23/2023

Sony Interactive Entertainment Lays Off Staff Across PlayStation Studios Amid Gaming Industry Cutbacks