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Epic Games sheds 830 people due to 'spending way more money than we earn'
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this post was submitted on 29 Sep 2023
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I'm sure this has nothing to do with the upcoming SAG-AFTRA strike since no deal was reached yesterday. I'm sure Epic is ensuring that no union workers are being fired immediately before an authorized strike.
https://deadline.com/2023/09/sag-aftra-video-game-strike-talks-no-deal-1235559424/
Isn't that strike for voice actors? These layoffs are of IT people.
Honestly, I'll bet it truly doesn't. Lots of places are laying off lots of workers right now, and Epic spent money like there's no tomorrow (and now it's tomorrow).
True, but the timing is extremely suspect. They could have laid them off at any time in the past weeks or months.
It may be a coincidence, but when it comes to corporations and their bottom line, there are rarely coincidences.
The non-coincidence is that we're at the end of September, the end of a fiscal quarter and historically the worst month of the year for stocks.