Current:Home > Scams‘League of Legends’ developer Riot Games announces layoffs of 530 staff-LoTradeCoin
‘League of Legends’ developer Riot Games announces layoffs of 530 staff
View Date:2024-12-23 16:22:52
BANGKOK (AP) — Riot Games, the developer of the popular “League of Legends” multiplayer battle game is joining other tech companies that have been trimming their payrolls with a layoff of 11% of its staff.
In a lengthy statement to staff issued late Monday, CEO Dylan Jadeja said the move was meant to “create focus and move us toward a sustainable future.” It said 530 jobs were being eliminated, accounting for about 11% of the company’s workforce.
Jadeja said the Los Angeles, California-based company had expanded its investments across too many areas, doubling its staff in a few years, and now was cutting back to focus on games.
Riot Games said it will pay staff who are laid off six months of salary at a minimum, cash bonuses and other benefits.
Job cuts have been taking a toll on workers across various industries — including retail, tech, media and hospitality — over the last few years. In recent months, layoffs have been announced at Google, Amazon, Hasbro, LinkedIn and more.
Many have been in the tech sector, which hired heavily during the pandemic, when people whiled away time stuck at home playing games online.
veryGood! (3466)
Related
- ‘Emilia Pérez’ wouldn’t work without Karla Sofía Gascón. Now, she could make trans history
- Get Ready to Turn Heads: The Sports Illustrated Swimsuit Collection Makes Waves on Amazon
- Ex-Southern Baptist seminary administrator charged with falsifying records in DOJ inquiry
- Louisiana Republicans reject Jewish advocates’ pleas to bar nitrogen gas as an execution method
- Engines on 1.4 million Honda vehicles might fail, so US regulators open an investigation
- Ex-Washington state police officer acquitted in Black man’s death files claims alleging defamation
- Spain withdraws its ambassador to Argentina over President Milei’s insults, escalating crisis
- Black bear found with all four paws cut off, stolen in northern California
- Cold case arrest: Florida man being held in decades-old Massachusetts double murder
- Trump’s lawyers rested their case after calling just 2 witnesses. Experts say that’s not unusual
Ranking
- Donna Kelce Includes Sweet Nod to Taylor Swift During Today Appearance With Craig Melvin
- Congolese army says it has foiled a coup attempt. Self-exiled opposition figure threatens president
- Saudi Arabia’s national carrier orders more than 100 new Airbus jets as it ramps up tourism push
- Russia begins nuclear drills in an apparent warning to West over Ukraine
- Justice Department sues to block UnitedHealth Group’s $3.3 billion purchase of Amedisys
- When is Pat Sajak’s last show on ‘Wheel of Fortune’? Release date, where to watch
- Faye the puppy was trapped inside a wall in California. Watch how firefighters freed her.
- Ex-Florida recruit Jaden Rashada sues coach Billy Napier, prominent booster over NIL deal
Recommendation
-
Bohannan requests a recount in Iowa’s close congressional race as GOP wins control of House
-
When is the 2024 French Open? Everything you need to know about tennis' second major
-
Report says there was ‘utter chaos’ during search for Maine gunman, including intoxicated deputies
-
Oscar-winning composer of ‘Finding Neverland’ music, Jan A.P. Kaczmarek, dies at age 71
-
Gavin Rossdale Makes Rare Public Appearance With Girlfriend Xhoana Xheneti
-
UPS worker killed after falling into trash compactor at facility in Texas
-
A top ally of Pakistan’s imprisoned former premier Imran Khan is released on bail in graft case
-
Former Trump adviser and ambassadors met with Netanyahu as Gaza war strains US-Israel ties