Epic Games lays off over 1,000 employees

Fortnite developer Epic Games is implementing significant layoffs, cutting over 1,000 jobs. CEO Tim Sweeney cited a decline in Fortnite's engagement since last year as the primary reason for the workforce reduction. This move, alongside substantial cost-saving measures in contracting and marketing, aims to stabilize the company's financial position. The layoffs follow a similar reduction in 2023 and reflect broader challenges within the live-service gaming sector, including increased competition and reduced consumer spending. The company is seeking to navigate these industry-wide headwinds to ensure long-term stability.