Epic Games Inc. is laying off about 900 employees, or 16% of its workforce, according to a person familiar with the matter.
The job cuts were announced in a memo to staff, said the person, who asked not to be named disclosing information that’s not yet public.
Based in Cary, North Carolina, Epic is the maker of Fortnite, an online game with more than 400 million users. It also produces the Unreal Engine, a popular suite of technology that is used to develop video games.
The company didn’t immediately respond to a request for comment.
Epic is one of the biggest privately held video game companies in the world. Chief Executive Officer Tim Sweeney owns the majority of shares while the Chinese conglomerate Tencent Holdings Ltd. has a 40% stake.
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