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Epic Games Trims Workforce by 16% Due to Unrealistic Metaverse Revenue Projections

Epic Games, the creator of Battle Royale Smash, Fortnite, is cutting off approximately 830 staff, or 16% of its workforce, as it looks to reduce its costs and create a viable financial ecosystem for the company. On Thurs...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Epic Games Trims Workforce by 16% Due to Unrealistic Metaverse Revenue Projections
Epic Games, the creator of Battle Royale Smash, Fortnite, is cutting off approximately 830 staff, or 16% of its workforce, as it looks to reduce its costs and create a viable financial ecosystem for the company.
On Thursday, CEO Tim Sweeney confirmed this in a memo later in a blog post. He attributed the cause to be due to overspending “ way more than they earn” and their unrealistic expectations from metaverse-inspired revenue. ...
Read More: Epic Games Trims Workforce by 16% Due to Unrealistic Metaverse Revenue Projections

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