Fortnite developer Epic Games cuts 1,000 jobs, CEO says 'sorry'

Tim Sweeney, CEO of Fortnite developer Epic Games, on Tuesday said the company is laying off over 1,000 employees due to a "downturn in Fortnite engagement". "I'm sorry we're here again…We're spending…more than we're making…We've to make major cuts to keep…company funded," Tim said. Laid-off employees will receive a severance package that includes at least four months of base pay.