Push Admin

League of Legends maker Riot Games to slash 530 jobs

Article (news)

Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A man watches the League of Legends e-gaming semifinal between team Chinese Taipei and team Vietnam, at the 19th Asian Games Hangzhou 2022, Hangzhou, China, September 28, 2023. Alex Plavevski, EPA-EFE/File." src="https://sa.kapamilya.com/absnews/abscbnnews/media/2024/life/01/23/012324_asiad_esports_lol_epa.jpg"/><figcaption>A man watches the League of Legends e-gaming semifinal between team Chinese Taipei and team Vietnam, at the 19th Asian Games Hangzhou 2022, Hangzhou, China, September 28, 2023. <em>Alex Plavevski, EPA-EFE/File.</em></figcaption></figure></div><p>LOS ANGELES -- League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as &quot;a necessity.&quot;</p><p>The layoffs at Riot -- owned by Chinese tech giant Tencent -- follow a turbulent year for the gaming industry, with job cuts at major firms including Electronic Arts and Ubisoft.</p><p>Riot has developed global hits including League of Legends and Valorant, but said it had launched too many projects in recent years.</p><p>&quot;Today, we&#x27;re a company without a sharp enough focus, and simply put, we have too many things underway,&quot; Riot CEO Dylan Jadeja said in an email to staff.</p><p>&quot;Some of the significant investments we&#x27;ve made aren&#x27;t paying off the way we expected them to. Our costs have grown to the point where they&#x27;re unsustainable.&quot;</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/sports/11/06/23/response-to-empyrean-cup-shows-lol-alive-and-well-in-ph">Response to Empyrean Cup shows League of Legends &#x27;alive and well&#x27; in PH</a></li>	<li><a href="https://news.abs-cbn.com/sports/08/30/23/riot-games-to-host-own-ph-league-of-legends-tournament">Riot Games to host own PH League of Legends tournament</a></li></ul><p>Jadeja said around 530 jobs, or 11 percent of staff, would be cut globally, without providing a breakdown by location.</p><p>In addition to its headquarters in Los Angeles, Riot&#x27;s website lists offices in 20 locations, including Berlin, Sao Paulo, Seoul and Sydney.</p><p>Thousands of people have lost their jobs in the tech sector over the past 18 months, including at some of the world&#x27;s biggest gaming companies.</p><p>Electronic Arts, Ubisoft and streaming platform Twitch have all announced layoffs in this period.</p><p>Riot&#x27;s League of Legends has rapidly grown into one of the most-watched esports in the world, with tens of millions tuning in to livestreams from competitions every year.</p><p>The final of its world championship is widely considered the esports Super Bowl.</p><p>In its statement about the layoffs on Monday, Riot said it would prioritize the teams behind League of Legends and other live games.</p><p>It said it would also phase out internal game development division Riot Forge.</p><p>© Agence France-Presse</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/01/23/riot-games-to-install-ph-servers-for-league-of-legends">Riot Games to install PH servers for League of Legends</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2887554" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as 'a necessity.'