Posted in: Epic Games, Games, Video Games | Tagged: Epic Games Store

Epic Games Will Reportedly Be Laying Off 900 Employees

In some grim news coming from Epic Games, the company has decided to lay off 16% of their workforce without any specific reason cited.

A bit of a shocker coming out of North Carolina today as Epic Games is laying off 900 employees from the company starting today. The word came down from Bloomberg this morning, as it was revealed the company has decided to make reductions in workforce and will be cutting their entire company's roster down by 16%.

Apparently, the word came down in a memo sent out to the entire company via email from Tim Sweeney, which was then anonymously shared with Bloomberg's Jason Schreier. According to reports, the company disabled their Slack channels ahead of the announcement so no one could get in contact with each other before sending out the memo. What's more, the memo itself, which you can see a screenshot of below after being leaked into Twitter/X, gives no specific reasons as to why the layoffs are happening in the first place beyond the words "spending way more money than we earn," as they decided layoffs were the only course of action. The one silver lining to the announcement is that the company will be providing all laid-off employees six months of severance, health insurance, and "accelerated stock vesting."

It's no secret the company invested a ton of cash into one very specific project, as they purchased a former mall with the intent of turning it into their new home. But two years later, little work has been done on the building, leading many to question whether or not they'll even be able to move into it by their target date of 2025. The vast majority of employees for the company live in or around Raleigh, North Carolina, which is not exactly the first place you think about when looking for jobs in the gaming market. This means most of those who have been laid off will either need to move or find a company that will allow them to work remotely for new work if they wish to continue in the industry. Hopefully, those 900 employees will be able to land on their feet, as that would be enough for anyone to start a brand new studio if they wished, provided they have the right talent and resources.

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