Riot Games, the creator of the widely-played “League of Legends” multiplayer battle game, is following the trend of several other technology companies by reducing its workforce, announcing a layoff affecting 11% of its employees.
In a comprehensive message to employees released late on Monday, CEO Dylan Jadeja explained that this decision was aimed at “creating focus and steering us towards a sustainable future.” The statement disclosed that 530 positions would be cut, constituting approximately 11% of the company’s total workforce.
Jadeja acknowledged that the Los Angeles-based company had overextended its investments in various areas, leading to a doubling of its staff over the past few years. The current move involves a strategic contraction to refocus on the core aspect of game development.
To support the affected staff, Riot Games has committed to providing a minimum of six months’ salary, along with cash bonuses and additional benefits.
The broader trend of job cuts has impacted workers across diverse industries, including retail, technology, media, and hospitality, over the past few years. Notably, major corporations such as Google, Amazon, Hasbro, LinkedIn, and others have recently announced layoffs.
The technology sector, which experienced significant hiring during the pandemic as people spent more time at home engaging in online gaming, has also been affected by these downsizing efforts.
