Riot Games, creator of the popular multiplayer battle video game “League of Legends,” joined technology companies that have adjusted their personnel costs and will lay off 11% of their workforce.
In a long statement sent to workers on Monday night, the company’s CEO, Dylan Jadeja, noted that the measure aims to “focus us and move us towards a sustainable future.” According to him, 530 jobs will be eliminated, around 11% of the squad.
Jadeja noted that the Los Angeles company had expanded its investments to too many areas, doubling its staff in a few years, and that it will now reduce expenses to focus on games.
Riot Games said it will pay laid-off workers at least six months’ salary, plus cash bonuses and other benefits.
In recent years, workforce reductions have affected sectors such as retail, technology, media and hospitality. Google, Amazon, Hasbro and LinkedIn, among others, have recently announced mass layoffs.
Many of the cuts have come in the technology sector, which made a large number of hires during the pandemic, when people spent a lot of time at home playing online games.