Last Updated: September 29, 2023, 09:00 IST
(Reuters) – “Fortnite” maker Epic Games is laying off about 900 employees, or 16% of its staff, Bloomberg News reported on Thursday.
The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles.
The job cuts were announced in a memo to staff, the report said, citing people familiar with the matter.
Epic Games could not immediately be reached for comment.
Legacy videogame publishers have also been fighting for top spots with new entrants like Warner Bros Discovery, whose “Harry Potter”-based game “Hogwarts Legacy” was a major hit.
Epic has been in a legal battle with Apple since 2020, when the gaming firm alleged that Apple’s practice of charging up to 30% commissions on in-app payments on iPhones and other devices violated U.S. antitrust rules.
Apple on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from the antitrust case.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)