Epic Games will lay off over 1,000 employees due to declining engagement in "Fortnite." The company aims to save $500 million by cutting contracting, marketing expenses, and eliminating some open roles.

Meta plans to lay off up to 20 percent of its workforce, potentially eliminating around 15,800 positions. This round of layoffs follows a previous reduction of 22,000 employees between November 2022 and early 2023.

Meta is planning layoffs that could impact 20% or more of its workforce as it aims to offset the costs associated with artificial intelligence infrastructure. Executives have indicated that these plans are in response to the need for greater efficiency with AI-assisted workers.

The company is reducing its workforce by nearly half, from over 10,000 employees to just under 6,000. Affected employees will receive a severance package of 20 weeks' salary plus an additional week for each year of service.