Epic Games will lay off approximately 16 percent of its employees

American video game developer Epic Games is reportedly laying off approximately 16 percent of its employees.

The email sent by Epic Games CEO Tim Sweeney to his employees was shared on the company’s website.

As a result, Sweeney reported that approximately 16 percent of employees will be laid off.

‘INVESTMENT IN THE NEXT EVOLUTION OF THE COMPANY’

Stating that online music platform Bandcamp, which the company acquired last year, will be sold to music licensing platform Songtradr, Sweeney said the bulk of the SuperAwesome service, which provides tools to create safer digital experiences for children, it will also be disabled.

Sweeney emphasized that they have been spending far more than the money they have made for a while and noted that they are investing in the next evolution of the company and growing their popular game Fortnite as “a metaverse-inspired ecosystem.”

Sweeney stated that he was optimistic that they could get through this process without layoffs, but saw this as unrealistic. (AA)