Ov Finance|‘League of Legends’ developer Riot Games announces layoffs of 530 staff

2025-05-08 11:11:07source:Algosenseycategory:Scams

BANGKOK (AP) — Riot Games,Ov Finance 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.

More:Scams

Recommend

Financial stress can damage your mental health. These steps may help

The tens of thousands of federal workers who have been cut from their jobs are not the only ones dea

'I've been trying to do this for over 30 years' — Billy Porter sings on his terms

Billy Porter has won a Grammy, an Emmy and a few Tonys since his breakout role on Broadway with 2013

Billboard Music Awards 2023: Taylor Swift racks up 10 wins, including top artist

Country music reigned supreme at the Billboard Music Awards (BBMAs)."Last Night" singer Morgan Walle