Layoffs 2024: Video Game Developer Riot Games Announces To Eliminate About 530 Roles Globally, About 11% of Its Workforce
The adjustments the company is making aim to focus it on the areas that have the “greatest impact on your experience while reducing investment on things that don’t”.
San Francisco, January 23: Video game developer Riot Games has announced to eliminate about 530 roles globally, which represents around 11 per cent of its workforce, with the biggest impact to teams outside of core development. The Tencent-owned company said that it is refocusing on fewer, high-impact projects to move it toward a more sustainable future.
“These are not just organisational changes; they affect individuals and families, and we do our best to approach these decisions with respect and sensitivity,” said the company. The company said that the decision is not to “appease shareholders or to hit a quarterly earnings number”. “It’s a necessity. Over the past few years, as Riot more than doubled in headcount, we spread our efforts across more and more projects without sharp enough razors to decide what players needed most,” Riot Games said TikTok Layoffs: Chinese Short-Video Making Service Provider Lays Off Certain Number of Employees To Reduce Costs.
The adjustments the company is making aim to focus it on the areas that have the “greatest impact on your experience while reducing investment on things that don’t”. The company will now focus on core live games -- League of Legends, VALORANT, Teamfight Tactics, and Wild Rift. Udaan CFO Quits: Homegrown B2B E-Commerce Platform’s Chief Financial Officer Aditya Pande Quits Job, Decides To Purse Opportunities Outside Company After Three Years.
“We're prioritising these teams so they can focus on the content, features, and updates that directly respond to what you’ve been asking for,” the company noted. It admitted that as it grew, some of its efforts became more isolated. “Beyond live titles, we have projects in the pipeline that we can’t wait to get to you when they’re ready,” the company informed.
(The above story first appeared on LatestLY on Jan 23, 2024 10:45 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).