Riot Games to lay off 11% of workforce
The Hindu
Riot Games has announced plans to reduce its global workforce by nearly 11%, affecting approximately 530 roles.
Riot Games announced on Tuesday(January 22 in the US) that its latest restructuring effort, will result in the elimination of about 11% of its global workforce, impacting roughly 530 roles.
The decision stems from the company’s expansive growth since 2019, where it evolved into a multi-game, multi-experience entity. Despite aiming to enhance player experiences, the lack of a focused trajectory led to unsustainable costs and underwhelming returns on substantial investments.
The restructuring is a strategic move to realign the company’s focus on aspects that generate maximum player value. The impact is particularly felt outside the core development teams, affecting employees across various departments.
To ensure transparency, Riot Games has initiated a communication process, wherein employees globally will receive emails, notifying them of potential impacts on their roles. Subsequent one-on-one meetings with senior leaders and people team partners are scheduled within 48 hours, adhering to local employment processes.
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Departing employees will receive a comprehensive compensation package, including severance pay, cash bonuses, continued health benefits, and additional funds for future expenses.
Equity holders will retain vested shares, and former employees will have access to career support services
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