See every side of every news story
Published loading...Updated

Epic Games is eliminating 16% of its workforce and selling Bandcamp

  • Epic Games is laying off 16% of its workforce, with the CEO stating that most of the cuts will be outside of core development, allowing the company to reduce costs while preserving major plans.
  • To achieve financial stability, Epic Games has decided to sell its music platform Bandcamp to Songtradr, as well as spin off most of its SuperAwesome services.
  • This move by Epic Games reflects a broader trend in the tech industry, as companies are implementing job cuts to address slowing growth and higher interest rates.
Insights by Ground AI
Does this summary seem wrong?

43 Articles

All
Left
13
Center
15
Right
4
Lean Left

Epic Games, the video game manufacturer Fortnite, announced this Thursday that it has fired some 830 workers, 16% of the workforce, due to a crisis caused by the fall in popularity of its main title, which is played by an average of 30 million people a day. Tim Sweeney, the company's CEO, announced the measure in a statement to employees. “For a long time I was optimistic that we could get through this transition without letting anyone go, but l…

·Spain
Read Full Article
Lean Right

Tras años de fusiones y adquisiciones multimillonarias, la industria del videojuego empieza a mostrar signos de resaca. ¿La última prueba? La empresa creadora del popular juego...

·Madrid, Spain
Read Full Article
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 47% of the sources are Center
47% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Forbes broke the news in United States on Thursday, September 28, 2023.
Sources are mostly out of (0)