Epic Games Lays Off 16% of Workforce, Divests Bandcamp and SuperAwesome

• Epic Games laid off around 900 employees, representing 16% of its workforce, due to excessive spending and lack of financial sustainability.
• The company is divesting its stake in music platform Bandcamp, which will be acquired by Songtradr.
• Epic will spin off its youth-focused marketing subsidiary SuperAwesome into an independent company.
• Laid off employees will receive severance packages including six months pay and benefits.
• Epic remains focused on key projects like Fortnite, but is cutting costs after outspending earnings.

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