Epic Games Lays Off 830 Employees Amid Company Restructuring Despite Fortnite's Success

Epic Games laying off 830 employees, about 16% of staff, CEO says layoffs "only way" due to overspending
Cuts happening outside of core development teams; still hiring but keeping staff levels the same
Epic divesting from Bandcamp, spinning off SuperAwesome; about 250 more staff leaving
Fortnite's creator economy led to less revenue to support staff growth
Larger trend of game industry layoffs in 2022; Epic not immune despite huge Fortnite success

decrypt.co

Relevant topic timeline:

9/19/2023

Epic Games to Pay $245 Million in FTC Settlement for Unwanted Fortnite Purchases

The Federal Trade Commission is notifying consumers who may be eligible for compensation in a settlement with Epic Games over deceptive practices in Fortnite, with $245 million being used for refunds; consumers have until January 17, 2024 to submit a claim.

9/28/2023

Epic Games Lays Off Hundreds as It Restructures and Refocuses on Apple Lawsuit

Epic Games has announced layoffs affecting around 16% of its workforce, citing the need to stabilize its finances as it invests in its metaverse-inspired ecosystem and battles against Apple and Google, some of whom were involved in the creation of Fall Guys.

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.

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.

10/16/2023

Epic launches Now On Epic program to bring older games to its store with favorable revenue split

Epic Games has introduced the "Now On Epic" program, offering developers 100 percent of net revenue for six months to encourage them to bring their older games to the Epic Games Store and compete with Steam.

10/16/2023

Epic Games Launches 'Now on Epic' Program with 100% Revenue Share to Attract Developers

Fortnite maker Epic Games has launched the Now on Epic program, which offers a 100% revenue boost for eligible back catalog games for the first six months of release on the Epic Games Store, in an effort to compete better with Steam.

10/17/2023

Epic Games Store Ramps Up Improvements and Incentives to Lure Players and Developers Away from Steam

The Epic Games Store has announced planned improvements including better search features, support for third-party subscriptions, and special publishing offers for developers to compete with Steam, while also facing layoffs and a shift in focus due to Fortnite's declining revenue.

Topics

Posted 9/28/2023, 5:19:23 PM

Epic Games Lays Off 830 Employees Amid Company Restructuring Despite Fortnite's Success

Epic Games laying off 830 employees, about 16% of staff, CEO says layoffs "only way" due to overspending
Cuts happening outside of core development teams; still hiring but keeping staff levels the same
Epic divesting from Bandcamp, spinning off SuperAwesome; about 250 more staff leaving
Fortnite's creator economy led to less revenue to support staff growth
Larger trend of game industry layoffs in 2022; Epic not immune despite huge Fortnite success

decrypt.co

Relevant topic timeline:

9/19/2023

Epic Games to Pay $245 Million in FTC Settlement for Unwanted Fortnite Purchases

9/28/2023

Epic Games Lays Off Hundreds as It Restructures and Refocuses on Apple Lawsuit

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.

10/6/2023

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

10/16/2023

Epic launches Now On Epic program to bring older games to its store with favorable revenue split

10/16/2023

Epic Games Launches 'Now on Epic' Program with 100% Revenue Share to Attract Developers

10/17/2023

Epic Games Store Ramps Up Improvements and Incentives to Lure Players and Developers Away from Steam