00:00Epic Games confirmed it is laying off more than a thousand employees, roughly 20% of its workforce and slashing
00:07$500 million in costs as Fortnite engagement has fallen sharply since 2025. In a memo to staff, CEO Tim Sweeney
00:16cited a straightforward financial reality with the company spending more than it's making and emphasized the layoffs are entirely unrelated
00:24to AI. This marks Epic's second major round of cutoffs in three years coming as broad
00:29industry headwinds, including weak consumer spending, sluggish console sales and competition from other entertainment continue to better the gaming sector.
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