Tencent's 'League of Legends' developer Riot Games announces layoffs of 530 staff

Core Points - Riot Games, the developer of "League of Legends," announced layoffs of 530 employees, representing 11% of its workforce, as part of a strategy to create focus and ensure a sustainable future [2][3] - The company acknowledged that it had expanded its investments too broadly and needed to refocus on its core gaming operations [2] - The layoffs are part of a broader trend in the tech industry, which has seen significant job cuts in recent months across various companies [3] Company Strategy - The layoffs are intended to streamline operations and enhance focus on game development, as the company admitted to lacking a sharp focus and having too many ongoing projects [2] - Riot Games plans to make changes to its "Legends of Runeterra" game to ensure sustainability and will reduce the team working on it, while also discontinuing "Riot Forge" after the release of "Bandle Tale" [4] Employee Support - The company will provide laid-off employees with a minimum of six months' salary, cash bonuses, and additional benefits, including job placement services and counseling [3] - Employees on work visas will receive visa support, and those laid off can request a laptop if needed [3]