CNN —Epic Games, the maker of Fortnite, said on Thursday that it will lay off 16% of its staff, around 830 employees, as it attempts to reverse what CEO Tim Sweeney called “unrealistic” spending.
He added that Epic plans to divest from the online independent music platform Bandcamp, which it bought last year and which will now be acquired by the music marketplace firm Songtradr.
Epic will also spin off most of its marketing division SuperAwesome into a standalone company.
About two-thirds of Epic’s Thursday layoffs will impact employees outside the company’s “core development” teams, Sweeney said.
“We’re cutting costs without breaking development or our core lines of businesses so we can continue to focus on our ambitious plans,” Sweeney said.
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