Epic Games Is Now 'Financially Sound,' Says CEO Tim Sweeney After Major Layoffs
Portfolio Pulse from Franca Quarneti
Epic Games CEO Tim Sweeney announced the company is now 'financially sound' after significant layoffs and strategic divestitures. The company laid off 830 employees and divested Bandcamp and SuperAwesome. Despite legal challenges costing $1 billion, Fortnite and the Epic Games Store have reached new user milestones.
October 02, 2024 | 8:38 pm
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Tencent-backed Epic Games has become financially sound after layoffs and divestitures. Despite legal costs, Fortnite and Epic Games Store have hit new user records.
Tencent holds a significant stake in Epic Games, which has recently stabilized financially after layoffs and strategic divestitures. The growth in Fortnite's user base and Epic Games Store's performance, despite ongoing legal costs, suggests a positive outlook for Tencent's investment.
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IMPORTANCE 80
RELEVANCE 70