Tencent Holdings Ltd.’s Riot Games has announced its plan to lay off 530 employees, which accounts for about 11% of its staff. The company’s management stated in a memo that the video game maker has too many employees and has lost focus. The job cuts are primarily aimed at the publishing and esports divisions as the company seeks to streamline its operations. Riot Games CEO Dylan Jadeja has emphasized the company’s commitment to supporting all impacted employees and continuing to invest in its games and players.
The layoffs come as the company has been expanding rapidly in recent years, with its workforce growing from around 2,500 employees in 2019 to more than 3,000 employees today. The company has been working on several new games, including a fighting game and a first-person shooter, but the impact of the job cuts on these projects remains to be seen.
Riot Games has been a major player in the gaming industry for years, with its flagship game League of Legends being one of the most popular online games in the world. The company has also been involved in esports, with its League of Legends Championship Series being one of the most-watched esports events.
The layoffs are expected to take place over the next few months, with the company offering severance packages and job placement assistance to those affected. Riot Games has stated that it will be reinvesting the money saved from the job cuts back into the company.
The news of the job cuts has been met with mixed reactions from the gaming community. Some have expressed concern about the impact on Riot Games’ future projects, while others have praised the company for taking steps to refocus its efforts.
In conclusion, Tencent’s Riot Games has announced its plan to lay off 530 employees, citing a loss of focus as the reason. The job cuts are primarily aimed at the publishing and esports divisions, and the company has stated its commitment to supporting all impacted employees and continuing to invest in its games and players. The impact of the job cuts on Riot Games’ future projects remains to be seen, but the company has stated that it will be reinvesting the money saved from the job cuts back into the company.