Riot Games, the creator of League of Legends, has announced that it will be reducing its global workforce by approximately 11 percent, which equates to around 530 jobs. The company, owned by Chinese tech giant Tencent, stated that these layoffs are necessary due to the need for a sharper focus and the unsustainable growth of costs.
The gaming industry has experienced a turbulent year, with major firms such as Electronic Arts and Ubisoft also implementing job cuts. Riot Games, known for its popular games like League of Legends and Valorant, admitted that it had taken on too many projects in recent years, leading to the need for a more streamlined approach.
CEO Dylan Jadeja emphasized that the company’s significant investments were not yielding the expected results, prompting the decision to reduce the workforce. The layoffs will affect employees across Riot’s 20 global offices, including those in Los Angeles, Berlin, Sao Paulo, Seoul, and Sydney.
These job cuts are part of a larger trend in the tech sector, with thousands of employees being laid off by some of the world’s biggest gaming companies. Despite the challenges, Riot Games remains committed to prioritizing its teams behind League of Legends and other live games, while phasing out its internal game development division Riot Forge.
League of Legends has become one of the most-watched esports in the world, with its world championship final being likened to the Super Bowl of esports. Riot Games assured that it will continue to focus on its core games and live events, ensuring that they remain at the forefront of the gaming industry.
Source: www.ibtimes.com