How the fuck do you manage to lose money with all those microtransactions from whales AND selling games with no physical media for 60+ dollars a pop!? I guess the cocaine and hookers wont pay for themselves.
They aren’t. Epic continues to make ever more and more record amounts of money quarter after quarter. Layoffs have nothing to do with revenue in the gaming industry.
I know that. The point was to show how absurd what they said was. And they could have said they were streamlining their business or whatever euphamism they want to use instead of lying about how profitable they are. And their investors probably would have taken that better than the company claiming that theyre “spending more than they earn.”
It actually does. If profit goes down (i.e. they’re still making lots of money), they do layoffs to keep profit margins at the target level. It doesn’t matter if they’re still making tons of money, they cut costs if they’re not making as much money as they forecasted.
Correct, it’s a Classic move by Capitalist scum.
In this moment, I am euphoric, because I am enlightened by your intelligence.
Lol, glad I could help.
Layoffs have nothing to do with revenue in the
gamingany industry.FTFY
Its all about shareholders. Layoffs generate less costs. Less costs mean more income. More income means more dividends, more dividends means more share value.
For short term for sure.
Investing in metaverse bs
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/
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.
Isn’t that strike for voice actors? These layoffs are of IT people.
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I wonder if the author was just copying verbatim from an Epic press release?
No, I just chose that wording.
Who but corpo snakes, habitual shedders of skin in service of new exploitative endeavors, would use such a word?
Well, me, obviously.
Seems really fucking weird to focus so much on the word like this.
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For all those who’ve lost their jobs, I’m sorry, and hope you land on your feet. For Epic…
Maybe you assholes should stop buying exclusives and make your launcher not a piece of shit? IDK, just spitballing here…
If they wouldn’t keep their user stats artificially with these exclusives, even more heads would roll.
Is that what we’re calling firing now? Shedding?
May the workers find a new job soon (not likely) and a big FUCK YOU to Epic!
Maybe spend some of it on a good app rather than marketing and exclusive deals, well or fire your workers and hope that accident of a game store will fix itself I guess!
What if they just stopped doing that instead of firing people?
Yeah they could stop giving away free games in a weak attempt to get people to use their shitty sub-par service. That probably costs them a good bit.
The only games on Epic I “own” are the free games I’ve cared enough to grab… and I still have opened Epic exactly zero times to play any of them. Pointless.
That was exactly my first thought. Getting exclusives and giving out free games is not cheap. Epic brought this on themselves and like any corporation they’re punishing their employees during downturns.
fuck epic games
At first I read “shreds”…
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So Epic games can just cut 830 people because they’re “spending way more than they earn” and nobody bats an eye. But when I cut 830 people because I spend way more than I earn, I’m “committing assault” and am “a menace to society.”
amen
Hahahaha
I wonder what’s the positions of the people they let go. I wonder if those jobs were automated, alot of companies are investing in AI nowadays.
