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News Epic Games is laying off 16% of it's workforce

fortnite-1984.gif
 
Tim Sweeney is a fucking gutless coward who deserves to lose his job long before anyone he laid off today did.
 
Timely reminder that no matter how much he may style himself otherwise, Tim Sweeney is not your friend, your champion or your defender. He is a parasite.
 
They probably made a hiring spree during COVID and it's now time to let go of the fluff. Or made bad investments like the epic store.
 
So many great decisions from Sweeney Tim :
  • We won't allow "garbage" games on our Store
  • We will welcome games that uses Blockchain and feature NFTs.
  • I will support Elon Musk against Apple
  • Let's delete Unreal, Unreal Tournamenet, Unreal 2, Unreal Tournament 2003, Unreal Tournamenet 2004 and Unreal Tournamenet 3 for no reason at all on every single store !
 
Zellia said:
Timely reminder that no matter how much he may style himself otherwise, Tim Sweeney is not your friend, your champion or your defender. He is a parasite.
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as is the case with most/all high execs and CEOs at companies all around the world regardless of their public personas.
 
Layoffs suck and it's always unfortunate since the executive and management layer is rarely impacted by them. The world would be a much better place if the upper levels of organizations would opt to cut their own pay to keep people on board, or did a better monitoring of their finances and the market situation to ensure that risk was mitigated better.

However, I do want to remind people that Sweeney may be out of touch currently and made/approved some bad bets (or continues to employ other C-Suites and VPs that did so) but he was also the lead on early versions of Unreal Engine, and has been running the company he built for some 30 years at this point. He's absolutely deserving of criticism but he's not some fly-by-night MBA holder that the board brought in a few years ago and is only waiting for his golden parachute.
 
shoptroll said:
Layoffs suck and it's always unfortunate since the executive and management layer is rarely impacted by them. The world would be a much better place if the upper levels of organizations would opt to cut their own pay to keep people on board, or did a better monitoring of their finances and the market situation to ensure that risk was mitigated better.

However, I do want to remind people that Sweeney may be out of touch currently and made/approved some bad bets (or continues to employ other C-Suites and VPs that did so) but he was also the lead on early versions of Unreal Engine, and has been running the company he built for some 30 years at this point. He's absolutely deserving of criticism but he's not some fly-by-night MBA holder that the board brought in a few years ago and is only waiting for his golden parachute.
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To be honest, I'm not particularly charitable to Tim Sweeny's current position since he is still the CEO who has made the strategic decisions that led to this current situation. He's not taking responsibility of his actions but instead puts the burdens of the consequences of those actions onto his employees. His circumstances and background is secondary to what he's actually doing right now as the head of the company, and those actions are even more revealing about his true personality and nature.

He might not be readily willing to burn the house down like so many other terrible CEOs, but he is still a terrible CEO based on his own performance and merits nonetheless.
 
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Sergiy Galyonkin is out too.


definitely one of the more interesting hires picked up during the Fortnite boom, he runs the Steam game owner tracking site Steamspy. which Epic thankfully allowed him to continue supporting as a side project while working with them.
 
Pokemaniac said:
Epic "as a platform" sounds vaguely ominous.
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I can't think of any technology-based company nowadays that doesn't refer to their product lineup as a "platform". The word is just too ubiquitous to glean any meaningful connotations or implications from its use.
 
InsaneZero said:
I can't think of any technology-based company nowadays that doesn't refer to their product lineup as a "platform". The word is just too ubiquitous to glean any meaningful connotations or implications from its use.
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After the recent Unity debacle, I'm a bit wary of stuff that sounds like a potential power grab by another player in the space.
 
Krvavi Abadas said:
Sergiy Galyonkin is out too.


definitely one of the more interesting hires picked up during the Fortnite boom, he runs the Steam game owner tracking site Steamspy. which Epic thankfully allowed him to continue supporting as a side project while working with them.
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Seems like the Epic Games Store as it is today will slowly be shutdown while turning off the money faucet on timed (?) exclusives, free games and published Epic games.

What a colossal failure and waste of money, Tim Sweeney should be embarrassed.
 
I do wonder if this was the only way to go about this. If he had to lay off 900 employees, was cutting Tim's salary down going to have any significant impact?
 
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LonkFromPA said:
I would like to also add that many companies (the one I work for included) got used the covid money that came in and began budgeting and forecasting based on those unrealistic, unsustainable numbers. They went on a hiring spree and found themselves having far more people than needed.
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It's amazing to me that management gets paid so much, just to be so reckless and stupid with these forecasts that require zero skill to make. What's the point of such a huge salary if your decisions mean nothing in the end?
 
efyu_lemonardo said:
What else has happened? I'm not up to date
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Previously :

www.gamesindustry.biz

Team17's Michael Pattison leaves amidst company restructure

Updated: UK-based indie publisher Team17 is the latest games company to be hit by a round of layoffs.The firm has also …
www.gamesindustry.biz www.gamesindustry.biz

UK-based indie publisher Team17 is the latest games company to be hit by a round of layoffs.

The firm has also announced the CEO of its Team17 Digital division, Michael Pattison, has left the business.
Click to expand...

www.gamesindustry.biz

Sega cancels Creative Assembly's Hyenas amid "structural reforms"

Original story: Sega has cancelled Creative Assembly's upcoming title Hyenas due to "structural reforms." The news was …
www.gamesindustry.biz www.gamesindustry.biz

Sega has cancelled Creative Assembly's upcoming title Hyenas due to "structural reforms."

Creative Assembly has confirmed a redundancy consultation process has begun at the studio and "may result in job losses."

"We fully understand that this has a significant impact on our people whether they are directly affected or not — which we are truly sorry for," the Horsham-based studio wrote on social media.
Click to expand...

www.gamesindustry.biz

Activision Blizzard reportedly cuts 10 from Hearthstone team

Activision Blizzard has laid off some developers from the Hearthstone team, the company confirmed to Kotaku senior repo…
www.gamesindustry.biz www.gamesindustry.biz

Activision Blizzard has laid off some developers from the Hearthstone team, the company confirmed to Kotaku senior reporter Ethan Gach.

Gach reported last night that 10 people within the Hearthstone team were let go without notice as part of a restructuring.
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Entirely possible I missed other news but this has been a pretty shit year for developers and people on working on games.
 
efyu_lemonardo said:
just to be so reckless and stupid with these forecasts that require zero skill to make.
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Welp, that’s the problem: this sort of decision making process is supposed to be data oriented. Thats the problem with CEOs: they have too much of an incentive to over deliver because they get bonuses that the majority of the time are two, three times their annual salary. So even if the data suggests they can only obtain an aggregate 15% growth in three years, they’ll try to sell a 40% growth because they can.

efyu_lemonardo said:
It's amazing to me that management gets paid so much,
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I’m glad people are finally grapping at how useless a CEO is in a company. The majority of the work gets done by the department VPs and their respective structures.
 
ziggyrivers said:
Welp, that’s the problem: this sort of decision making process is supposed to be data oriented. Thats the problem with CEOs: they have too much of an incentive to over deliver because they get bonuses that the majority of the time are two, three times their annual salary. So even if the data suggests they can only obtain an aggregate 15% growth in three years, they’ll try to sell a 40% growth because they can.


I’m glad people are finally grapping at how useless a CEO is in a company. The majority of the work gets done by the department VPs and their respective structures.
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CEOs serve a purpose in that they shape the direction of the company as a whole through strategic decisions that propagate down to departments to execute. They're worthless in the same manner as any other position - only as good as the person in that position. A CEO has greater autonomy to screw up than the lower level employees, and their failures are more visible and have broader significant consequences.
 
InsaneZero said:
CEOs serve a purpose in that they shape the direction of the company as a whole through strategic decisions that propagate down to departments to execute. They're worthless in the same manner as any other position - only as good as the person in that position. A CEO has greater autonomy to screw up than the lower level employees, and their failures are more visible and have broader significant consequences.
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The CEO relationship with their board also makes a huge impact. If the board wants to go in a particular direction there’s not really a lot the CEO can do about it from what I’ve observed at my job.
 
InsaneZero said:
CEOs serve a purpose in that they shape the direction of the company as a whole through strategic decisions that propagate down to departments to execute. They're worthless in the same manner as any other position - only as good as the person in that position. A CEO has greater autonomy to screw up than the lower level employees, and their failures are more visible and have broader significant consequences.
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yeah it's like saying the president is useless because the cabinets do everything
 
Lugia667 said:
yeah it's like saying the president is useless because the cabinets do everything
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Basically any operation that requires multiple groups of people to cooperate with each other requires somebody else managing these groups if the overall collective wants to avoid wasting time figuring out who gets to do what.
 
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Adulfzen said:
Seems like the Epic Games Store as it is today will slowly be shutdown while turning off the money faucet on timed (?) exclusives, free games and published Epic games.

What a colossal failure and waste of money, Tim Sweeney should be embarrassed.
Click to expand...

I think that "Epic First Run" thing they've announced a couple of months ago was an indication that they're either done with moneyhats or will do significantly less of them.
 
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Epic just sold Bandcamp to Songtradr, who then managed to fire 50% of the Bandcamp team.
That's 60 people.
 
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