Recently, Epic Games announced that it would be laying off a huge proportion of developers, around 830 to be exact. It was an announcement that led to huge waves throughout the games industry, and now picking up on this, CEO Tim Sweeney has talked about why so many people had to lose their job.
Speaking at an annual conference dedicated to Unreal Engine, Sweeney states that the layoffs were a "survival move that was necessary", and that the decision to release so many workers from their contract was one that came "so we won't run out of money as we build the metaverse."
It was also mentioned by Sweeney that Epic was aware of the economic position it was in around 10 weeks before deciding to lay off over 800 employees. As for how Epic has got to this point considering the massive success of Fortnite, the company has still managed to spend more money than it is making, and no doubt costly lawsuits and the ongoing court case against Apple isn't making Epic's financial situation any better.
You can see Sweeney's full speech below, as per X user @ImmatureGamerX.
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