League of Legends maker Riot Games to slash 530 jobs | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

League of Legends maker Riot Games to slash 530 jobs

League of Legends maker Riot Games to slash 530 jobs

Agence France-Presse

Clipboard

A man watches the League of Legends e-gaming semifinal between team Chinese Taipei and team Vietnam, at the 19th Asian Games Hangzhou 2022, Hangzhou, China, September 28, 2023. Alex Plavevski, EPA-EFE/File.
A man watches the League of Legends e-gaming semifinal between team Chinese Taipei and team Vietnam, at the 19th Asian Games Hangzhou 2022, Hangzhou, China, September 28, 2023. Alex Plavevski, EPA-EFE/File.

LOS ANGELES -- League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as "a necessity."

The layoffs at Riot -- owned by Chinese tech giant Tencent -- follow a turbulent year for the gaming industry, with job cuts at major firms including Electronic Arts and Ubisoft.

Riot has developed global hits including League of Legends and Valorant, but said it had launched too many projects in recent years.

"Today, we're a company without a sharp enough focus, and simply put, we have too many things underway," Riot CEO Dylan Jadeja said in an email to staff.

ADVERTISEMENT

"Some of the significant investments we've made aren't paying off the way we expected them to. Our costs have grown to the point where they're unsustainable."

Jadeja said around 530 jobs, or 11 percent of staff, would be cut globally, without providing a breakdown by location.

In addition to its headquarters in Los Angeles, Riot's website lists offices in 20 locations, including Berlin, Sao Paulo, Seoul and Sydney.

Thousands of people have lost their jobs in the tech sector over the past 18 months, including at some of the world's biggest gaming companies.

Electronic Arts, Ubisoft and streaming platform Twitch have all announced layoffs in this period.

Riot's League of Legends has rapidly grown into one of the most-watched esports in the world, with tens of millions tuning in to livestreams from competitions every year.

The final of its world championship is widely considered the esports Super Bowl.

In its statement about the layoffs on Monday, Riot said it would prioritize the teams behind League of Legends and other live games.

It said it would also phase out internal game development division Riot Forge.

© Agence France-Presse

RELATED VIDEO

Watch more News on iWantTFC

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.