Riot Games, a subsidiary of Tencent, announced today its plans to reduce its workforce by 530 employees, which constitutes approximately 11% of the total personnel.
Dylan Jadeja, CEO of Riot Games, explained that the company has seen its employee count more than double in recent years. The objective of this significant layoff is to sharpen the company’s business focus and pave the way for sustainable growth in the future.
The laid-off employees will receive a minimum of six months’ salary. Additionally, Riot Games will offer each affected employee a cash bonus equivalent to their individual annual performance bonus for 2023. Once they return their company-issued computers, these employees will be eligible to apply for a laptop and will be allowed to retain their current peripherals, including keyboards, mice, and headphones. Riot Games is also committed to providing guidance and support in areas such as job search, career planning, and resume writing to assist these employees in transitioning to new roles.
In terms of its game development strategy, Riot Games will prioritize titles such as “League of Legends,” “Valorant,” “Teamfight Tactics,” and “League of Legends: Wild Rift.” Concurrently, it will downsize the “Legends of Runeterra” team and discontinue the development of Riot Forge games following the release of “Bandle Tale: A League of Legends Story.”