Riot Games cuts more than 500 jobs -Gudstory

After more than 9,000 layoffs in the video game industry last year, this trend is expected to continue in 2024, and League of Legends Creator Riot Games is the latest example of this. On Monday night, the company announced that “we are refocusing on smaller, higher-impact projects to move toward a more sustainable future,” meaning layoffs of 530 people globally, or about 11 of its total workforce. Eliminating roles for percentage.

CEO Dylan Jadeja said in a company-wide message, “Some of the significant investments we’ve made are not paying off in the way we expected,” and pointed to Riot’s 10th anniversary expansion in 2019, Due to which it spread. League of Legends universe into new games and other forms of entertainment. Employees whose role is being or may be affected will have a meeting with their relevant leadership within the next 48 hours and will be offered at least six months’ severance pay, as well as for those and Higher salary will also be given to those who have been associated with the company for a long time. And other benefits too.

As Riot says it’s prioritizing core live games, like League of Legends, Valorant, Teamfight Tactics, And wild crack, as well as e-sports and events associated with those titles. Similarly, Project L 2D fighting game is still in development union The characters are said to be “making great progress” and its season two of difference The TV show is set to arrive on Netflix in November.

Projects directly affected by the changes include legends of runeterra“It didn’t perform as well as we needed it to,” Jadeja said of the free-to-play card game announced in 2019. That team is being downsized and focused on PvE game modes. The second target in Riot’s current gaming portfolio is the Riot Forge publishing label, which was also announced in 2019 to partner with smaller studios to produce more League-related titles.

According to Jadeja, the cuts are not meant to appease investors, but instead, “We have to do more to focus on our business and focus our efforts on the things that provide the most value to players.” do – things that are actually worth the players’ time. ” However, this will not ease the impact on those directly affected, or ease the chill spreading throughout the industry – maintained by a layoff tracker My City There are already over 3,800 jobs lost in 2024, and it’s still January.