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Original story, September 28, 2023: Epic Games today confirmed it is laying off about 830 people, or roughly 16% of the company.
It is also parting ways with another 250 employees through the sale of music storefront Bandcamp and the spinoff of "most of" the youth marketing company SuperAwesome into its own separate business.
"For a while now, we've been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators," Epic CEO Tim Sweeney said in an email to staff. "I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic."