Riot Games to lay off 530 employees - 11% of staff

The first month of 2024 has not even passed yet, and we are already waiting for news about layoffs in the gaming industry. This time, the situation is happening at Riot Games, the creators of League of Legends and Valorant.

Here's What We Know

In recent years, Riot's staff has doubled, but the company sees no need for it now. Riot also said that it is not doing this to appease shareholders or achieve quarterly profits. The cuts are needed to focus on the most important projects and reduce investments in things that have less impact.

That's why 530 people were laid off - 11% of the entire team. But Riot noted that all of these people will receive severance payments of at least six months' salary, bonuses, and support while they look for new jobs.

Currently, Riot is focusing on League of Legends, VALORANT, Teamfight Tactics, and Wild Rift. At the same time, the team is seriously engaged in other projects. For example, a game with the working title Project L and the second season of the Arkane series, which will be released in November 2024.

In conclusion, it is worth noting that Legends of Runeterra will now focus on PvE, as the game has not become profitable, and Bandle Tale: A League of Legends Story will be the last game of the Riot Forge division. For Riot, it was an interesting experiment, but not successful in terms of profits.

Source: riotgames