The creator of the Unreal Engine and the ultra-popular online game Fortnite, Epic Games has announced that it is laying off 16% of its employees!

The head of Epic Games Tim Sweeney announced some unpleasant news: about 850 of his employees will be out of work, which is 16% of the total staff of the company.

Here's What We Know

Sweeney explained that the company wants to cut costs, because recently Epic Games has been spending more than it earns.

The management tried to avoid a wave of layoffs, but unfortunately, this measure proved necessary.

Another 250 people will leave Epic, but as a result of two deals: the sale of music site Bandcamp and the separation of marketing company SuperAwesome.

Source: Bloomberg