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Epic Games Restructures Workforce with 16% Staff Reduction Amid Metaverse Shift

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Oct 3, 2023 at 02:28 pm

Epic Games, the video game developer behind the popular online game Fortnite, is implementing workforce reductions of approximately 16% in the wake of a metaverse-inspired shift in their business model.

In a communication to staff members on Thursday, CEO Tim Sweeney disclosed that this restructuring would affect 830 employees within Epic Games.

Sweeney explained that Epic Games has been actively cultivating Fortnite as a metaverse-inspired platform for creators. As a result, the game's expansion is now predominantly fueled by user-generated content. While this signifies a more democratized revenue distribution, it translates to lower overall earnings for Epic.

Reflecting on the situation, Sweeney acknowledged:

 "I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic."

The metaverse envisions a digital realm where the internet transforms into an immersive virtual space conducive to work, leisure, social interactions, and events. Although still in its early developmental stages, Epic Games' recent move indicates significant strides being made by major players in the video game industry towards embracing this concept.

Read more: Robbie Williams Takes Center Stage in the Metaverse: LightCycle Beckons!

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