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

By The Associated Press

BANGKOK (AP) — Riot Games, the developer of the popular “League of Legends” multiplayer battle game is joining other tech companies that have been cutting back with a layoff of 11% of its staff. CEO Dylan Jadeja said the move was meant to “create focus and move us toward a sustainable future.” He said 530 jobs were being eliminated. Jadeja said the 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. Los Angeles, California-based Riot Games is owned by the Chinese technology giant Tencent. It said it will pay staff who are laid off six months of salary at a minimum among other benefits.