Just yesterday, Epic Games announced that it had laid off more than 1,000 employees from across the company, as well as cutting over $500 million in contracting, marketing, and closing job posts. According to CEO Tim Sweeney, Epic is still "spending significantly more than [it's] making," despite the company running one of the most popular games in history, Fortnite, and Unreal Engine, which is used widely across the industry.
Sweeney put this down to Fortnite's ongoing "downturn" in engagement and "current consoles selling less than last generation's." Only a passing reference to Epic's years-long legal disputes with Apple and Google, which ultimately resulted in victory for Epic at a high cost.
