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.