One of the tech sector’s worst years continues with the news that about half of Bandcamp’s employees have been laid off. Bandcamp employees are reporting the news. throught social media.
Late last month, Epic Games laid off 16 percent of its workforce, or 830 employees, due to what CEO Tim Sweeney described as excessive spending. Epic also revealed that it would sell the Bandcamp business to California-based music licensing company Songtradr. In that announcement, Epic revealed that an additional 250 people would leave Epic either through receiving offers from Songtradr or through Epic’s sale of its SuperAwesome advertising business. Employees who did not receive offers from Songtradr were notified today and will be eligible to receive severance.
In an email to The edgeSongtradr confirmed that 50 percent of Bandcamp employees have been extended offers to join Songtradr and reaffirmed since a prior statement the company’s commitment to maintaining the same Bandcamp experience.