Fortnite maker Epic Games is laying off about 900 employees, or 16% of its staff, Bloomberg News reported Thursday.

The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles.

The job cuts were announced in a memo to staff, the report said, citing people familiar with the matter.

Epic Games could not immediately be reached for comment.

Legacy videogame publishers have also been fighting for top spots with new entrants like Warner Bros Discovery, whose “Harry Potter”-based game Hogwarts Legacy was a major hit.