Tencent’s Riot Games Layoffs 11% Talented Employees

Riot Games, a video game developer company backed by Tencent recently made a huge layoff that eliminated 530 talented employees. Being 11% of the workforce, Riot is heading towards major changes in the future.

“As CEO, I’m accountable for the changes we’re making and where we’re headed in the future. So, I think it’s important for me to share how we got here and how the next few days will work.” The Riot CEO, Dylan Jadeja expressed empathy.

Since 2019, the company has diversified its portfolio through various games and investments, but not everything pays off. This led to a change in perspective and focus that resulted in massive layoffs.

“Today, we’re a company without a sharp enough focus; simply put, we have too many things underway. Some of the significant investments we’ve made aren’t paying off the way we expected them to.”

Riot Games
Riot Games

To support through the awful situation, Riot plans to offer services that include Severance Pay, Bonuses, Health & Fund benefits, Equity, assistance, and a lot of support.

League of Runeterra is affected widely while the decision to shut Riot Forge after the release of Bundle Tale is highly possible. Luckily LOL Wild Rift and Teamfight Tactics are not affected.

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