Nah, acquisition layoffs come from when you’re shopping your company around, and there’s a deal on the table, but you need that extra 7% of profit. Sweeney would need to be shopping for that to happen. As it sits, they’d probably have to pay him a premium in their own stock to make it happen.
The entire tech and games sectors are shedding like fuck because everyone else is. You normally can’t drop 10% of your staff without pissing off the public and scaring investors, but when all the competitors are doing it, it’s just the market correcting. The investors are clamoring for this.
If Sweeney wanted to sell Epic he wouldn’t continue the legal battles with Apple, the storefront fight with Valve and he wouldn’t be laying off people to try and stay afloat. If you’re planning to sell you’re going to make the company look as strong as it has never looked before. You’d drop the moneysink lawsuit with Apple, the storefront fight with Steam and you’d stack the Fortnite calendar to have the highest engagement it has ever had and you’d be promoting the living shit out of Unreal engine (Either through some insane new feature or by announcing a new engine) and you’d release Alan Wake 2 on Steam to make the publishing side also look good. And just to be sure you’d throw out some potential new game ideas to show that you haven’t forgotten being a game dev. In short you’d have to show consistently good revenue and really great growth potential. If you want to good example how that looks like look at Bungie getting sold to Sony.
Nothing Sweeney is doing is indicating he’s planning on cashing out. If there’s going to be a sale it’s going to be out of desperation and I doubt Epic is in that dire of a state.
That would explain the 1000 people laid off. They could be preparing the terrain. Gotta keep the mouse growing amirite?
Nah, acquisition layoffs come from when you’re shopping your company around, and there’s a deal on the table, but you need that extra 7% of profit. Sweeney would need to be shopping for that to happen. As it sits, they’d probably have to pay him a premium in their own stock to make it happen.
The entire tech and games sectors are shedding like fuck because everyone else is. You normally can’t drop 10% of your staff without pissing off the public and scaring investors, but when all the competitors are doing it, it’s just the market correcting. The investors are clamoring for this.
If Sweeney wanted to sell Epic he wouldn’t continue the legal battles with Apple, the storefront fight with Valve and he wouldn’t be laying off people to try and stay afloat. If you’re planning to sell you’re going to make the company look as strong as it has never looked before. You’d drop the moneysink lawsuit with Apple, the storefront fight with Steam and you’d stack the Fortnite calendar to have the highest engagement it has ever had and you’d be promoting the living shit out of Unreal engine (Either through some insane new feature or by announcing a new engine) and you’d release Alan Wake 2 on Steam to make the publishing side also look good. And just to be sure you’d throw out some potential new game ideas to show that you haven’t forgotten being a game dev. In short you’d have to show consistently good revenue and really great growth potential. If you want to good example how that looks like look at Bungie getting sold to Sony.
Nothing Sweeney is doing is indicating he’s planning on cashing out. If there’s going to be a sale it’s going to be out of desperation and I doubt Epic is in that dire of a state.