Epic Games is shedding about 830 employees, divesting Bandcamp

The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen

The Epic Games brand, maker of the favored online game “Fortnite”, is pictured on a display screen on this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration Acquire Licensing Rights

Sept 28 (Reuters) – “Fortnite” maker Epic Games is shedding about 830 employees, or 16% of its staff, and divesting online music platform Bandcamp, the company mentioned on Thursday.

The videogame company will also spin-off most of SuperAwesome, which Epic Games acquired in 2020. SuperAwesome is a platform for developers to include kid-safety instruments in their products.

“While ‘Fortnite’ is beginning to grow again, the expansion is driven primarily by creator content with significant revenue sharing, and this can be a lower margin enterprise than we had when ‘Fortnite Battle Royale’ took off,” CEO Tim Sweeney mentioned in an e-mail to workers.

Sweeney stated that about two-thirds of the layoffs have been outside of core improvement groups and that the cuts would assist the company “get to the opposite facet of profitability.”

The videogame trade is struggling with a slowdown in spending as inflation-weary players become extra selective in choosing popular titles.

Legacy videogame publishers have additionally been preventing for high spots with new entrants like Warner Bros Discovery, whose “Harry Potter”-based sport “Hogwarts Legacy” was a major hit.

Epic has been in a authorized battle with Apple (AAPL.O) since 2020, when the gaming firm alleged that Apple’s practice of charging as much as 30% commissions on in-app funds on iPhones and different gadgets violated U.S. antitrust rules.

Apple on Thursday requested the united states Supreme Court to strike down an order requiring changes to its App Store guidelines stemming from the antitrust case.

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Reporting by Chavi Mehta, Samrhitha Arunasalam and Jaspreet Singh in Bengaluru; Editing by Arun Koyyur and Maju Samuel

Our Standards: The Thomson Reuters Trust Principles.

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