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BANGKOK (AP) — Riot Games, the developer of the popular “League of Legends” multiplayer battle game, is joining other tech companies that are cutting their payrolls with the layoff of 11% of their employees.
In a lengthy statement issued to employees late Monday, CEO Dylan Jadeja said the move was intended to “focus and move us toward a sustainable future.” It said 530 jobs were being eliminated, about 11% of the company’s workforce.
Jadeja said the Los Angeles, California-based company has expanded its investments across multiple sectors, doubling its staff in a few years, and is now cutting back to focus on sports.
Riot Games said it will pay those employees a minimum of six months’ salary, cash bonuses and other benefits.
Job cuts in various industries over the past few years, including retail, tech, media and hospitality, are having a huge impact on workers. In recent months, layoffs have been announced Google, Amazon, Hasbro, Linkedin even more.
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Many are in the tech sector, who hired extensively during the pandemic when people spent time at home playing online games.
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