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Epic Games to cut 16% of workforce

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Epic Games, the maker of Fortnite, announced plans to cut 16% of its workforce.

CEO Tim Sweeney said the company had been “spending way more money than we earn, investing in the next evolution of Epic.”

The company also is selling independent music platform Bandcamp to music marketplace firm Songtradr and spinning off most of its SuperAwesome marketing division into a standalone company.

Read more from CNN Business.

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