Current:Home > Stocks‘League of Legends’ developer Riot Games announces layoffs of 530 staff -Dynamic Wealth Bridge
‘League of Legends’ developer Riot Games announces layoffs of 530 staff
View
Date:2025-04-18 21:54:25
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! (54)
Related
- Travis Hunter, the 2
- Mysterious injury of 16-year-old Iranian girl not wearing a headscarf in Tehran’s Metro sparks anger
- Singer Maisie Peters Reveals She Never Actually Dated Cate’s Brother Muse
- Man allegedly tries to abduct University of Virginia student: Police
- Former Syrian official arrested in California who oversaw prison charged with torture
- Is your Ozempic pen fake? FDA investigating counterfeit weight loss drugs, trade group says
- We need to talk about the macro effect of microaggressions on women at work
- Judge denies Sidney Powell's motion to dismiss her Georgia election interference case
- Intel's stock did something it hasn't done since 2022
- Tropical Storm Philippe chugs toward Bermuda on a path to Atlantic Canada and New England
Ranking
- Nevada attorney general revives 2020 fake electors case
- US fighter jet shoots down armed Turkish drone over Syria
- US resumes some food aid deliveries to Ethiopia after assistance was halted over ‘widespread’ theft
- The 10 essential Stephen King movies: Ranking iconic horror author’s books turned films
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Dozens killed in Russian missile strike on village in eastern Ukraine, officials say
- Inside the Lindsay Shiver case: an alleged murder plot to kill her husband in the Bahamas
- 77-year-old Florida man accused of getting ED pills to distribute in retirement community
Recommendation
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
The Powerball jackpot is now $1.4 billion, the third highest in history. See Wednesday's winning numbers.
Monkey with sprint speeds as high as 30 mph on the loose in Indianapolis; injuries reported
Saudi Arabia in lead and maybe all alone in race shaped by FIFA to host soccer’s 2034 World Cup
Why members of two of EPA's influential science advisory committees were let go
Why the UAW strike could last a long time
Failure of single component caused Washington seaplane crash that killed 10, NTSB says
Millions of children are displaced due to extreme weather events. Climate change will make it worse