Epic Games Cuts 1,000 Jobs Amid Fortnite Engagement Decline; $500M Cost Reduction Plan

Epic Games announced over 1,000 layoffs and $500 million in cost savings as Fortnite engagement continued declining. CEO Tim Sweeney stated the company is 'spending significantly more than we're making.' This is Epic's second major layoff in three years (900 were cut in 2023). The cuts complicate Disney's $1.5 billion investment in Epic. Affected employees receive at least four months severance.