In an effort to achieve financial stability, Epic Games has announced that it will be laying off 16% of its workforce. CEO Tim Sweeney stated that about two-thirds of the job cuts will be outside of core development, allowing the company to reduce costs without interrupting major plans. Additionally, Epic will be selling its music platform, Bandcamp, to Songtradr, a music licensing platform. The company’s SuperAwesome advertising business will also be spun off as an independent company under the SuperAwesome brand. These moves come as Epic Games aims to rectify its spending and reduce losses. The layoffs at Epic Games reflect the broader trend of job cuts within the tech industry due to slowing growth and higher interest rates.