League of Legends developer Riot Games laying off 530 employees
League of Legends developer Riot Games has announced it's laying off 530 employees — roughly 11 percent of its total global workforce — saying it's making the decision as it refocuses on «fewer, high-impact projects to move us toward a more sustainable future.»
In a statement addressing players on its website, Riot — which laid off 46 members of staff in January last year — wrote, «For most of our history, we've managed to avoid days like this, but this decision is critical for the future of Riot. This isn't to appease shareholders or to hit a quarterly earnings number — it's a necessity.»
CEO Dylan Jadeja went into more specific details about the business circumstances leading to today's layoffs in an email to Riot employees, also shared on the studio's website. «Since 2019,» he wrote, «we've made a number of big bets across the company with the goal of making it better to be a player. We jumped headfirst into creating new experiences and broadening our portfolio, and grew quickly as we became a multi-game, multi-experience company — expanding our global footprint, changing our operating model, bringing in new talent to match our ambitions, and ultimately doubling the size of Riot in just a few years.»
«Today, we're a company without a sharp enough focus,» he continued, «and simply put, we have too many things underway. Some of the significant investments we've made aren't paying off the way we expected them to. Our costs have grown to the point where they're unsustainable, and we've left ourselves with no room for experimentation or failure – which is vital to a creative company like ours. All of this puts the core of our business at risk.
»Over the past several months, we've tried to alter our trajectory in many different ways. We asked leaders to make tradeoffs in the things their teams are working on. We rolled out hiring slowdowns, and in some cases hiring freezes. We put an emphasis on controlling costs while strengthening our revenue growth. All of which
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