Singapore – In a development that has sent ripples across the Asia-Pacific gaming industry, Epic Games, the global video gaming behemoth, has declared a reduction of approximately 16% of its workforce. This translates to a staggering 830 employees facing layoffs.
Key Highlights:
- Epic Games to lay off 16% of its workforce, impacting around 830 employees.
- The move follows the sale of its audio platform, Bandcamp, to Sontradr.
- SuperAwesome’s management team reclaims most of its stake from Epic Games.
- CEO Tim Sweeney emphasizes the need for financial sustainability.
- The company remains committed to major projects, including Fortnite’s upcoming seasons and other game developments.
In an internal communication, Tim Sweeney, the CEO of Epic Games, elucidated the company’s intent to streamline costs without hampering their primary business operations. The overarching goal is to ensure that the company remains laser-focused on its forthcoming ventures, notably the anticipated Fortnite Season, Fortnite Chapter 5, and other projects like Del Mar, Sparks, and Juno.
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Sweeney elaborated, “While we’ve been ardently working on cost-cutting measures, such as transitioning to net-zero hiring and trimming operational expenses in areas like marketing, the financial gap remained. Layoffs, though a tough decision, emerged as the sole viable solution to ensure our financial stability.”
Despite these changes, Epic Games’ commitment to its core projects remains unwavering. The company will persist in its investments in flagship games like Fortnite, Rocket League, and Fall Guys. Additionally, they will continue to support developers with services, including the renowned Unreal Engine.
Addressing the remaining workforce, Sweeney expressed optimism, stating, “The road ahead for Epic is promising. Our multi-platform game experiences are unparalleled, and we’re poised for a future filled with opportunities.”
It’s noteworthy that Epic Games has a substantial footprint in the Asia-Pacific region, with outsourcing arms in countries like China, Japan, South Korea, and Australia. Adding another layer to its Asia-Pacific connection, Tencent, the global tech titan, holds a 40% majority stake in Epic Games.
