BROOKLYN, NY - AUGUST 09: CEO of Epic Games Tim Sweeney speaks onstage during Samsung Unpacked New York City at Barclays Center on August 9, 2018 in Brooklyn City.
Epic Games on Thursday said it's laying off 16% of its workforce, selling its music platform Bandcamp and spining off most of its SuperAwesome services.
Sweeney also announced that Epic will sell its music platform Bandcamp, which it acquired last year, to Songtradr, a music licensing platform.
The layoffs at Epic Games are the latest in a growing list of job cuts across tech industry, which has faced slowing growth and higher interest rates since early last year.
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Persons:
Tim Sweeney, we've, Sweeney, Songtradr, China's Tencent
Organizations:
Epic, Samsung Unpacked, Barclays Center, SuperAwesome, Apple, Epic Games
Locations:
BROOKLYN, NY, York City, Brooklyn City