Fortnite-maker Epic Games says it is laying off more than 1,000 employees, citing a fall in engagement with its popular online game.
In a note to staff on Tuesday, Epic's chief executive Tim Sweeney apologised for the cuts - attributing them to a "downturn" in Fortnite engagement beginning in 2025.
He said this had left it "spending significantly more than we're making" and needing to "make major cuts to keep the company funded".
It comes after the company recently hiked the price of Fortnite's in-game currency V-Bucks to "help pay the bills" amid increased operating costs.
Sweeney's note to staff, published on Epic's website, said the latest round of layoffs, in addition to $500m (£373m) of identified cost savings across other parts of its operations, would put the company "in a more stable place".
