Gaming Industry
Epic is Laying off about 830 employees
Along with the layoffs, they also announced that they sold Bandcamp to Songtradr and that Most of SuperAwesome would become independent.
Tim Sweeney, CEO of Epic, has shared with the company that they will be laying off 16% of their employees, which would be roughly 830 people who were working for them.
Laid-off employees will receive several benefits to help them for the next few months.
A lot of the layoffs have been from positions that are not on the development side, so it will probably not be affected much.
Songtradr is acquiring Bandcamp, though Epic will still be working with them for the things they needed them before, such as Fortnite Radio and a few other collaborations with Songtradr themselves.
Most of Superawesome will become Independent; the only part that will remain with Epic is KWS or Kids Web Services, a Parent Verification and Consent platform.
With these changes, they have promised that there will be no further redundancies, as they have been made to stabilize their business; in the future, they will still keep hiring people for the necessary roles.
In conclusion, Epic will be laying off about 16% of its workforce, meaning about 830 employees, not counting another 250 who will be leaving along with Bandcamp and most of Superawesome; there will be no more layoffs, or at least not at the same scale.
