- Riot Games is laying off 530 employees, which constitutes approximately 11 percent of its workforce, due to its large number of employees.
- The company also announced that it would give a “separation package” to laid-off employees. This package includes many financial supports such as a 6-month salary, a $1000 game and a health fund.
Layoffs in the digital sector, which started with the epidemic in 2020, are still continuing. While Amazon and TikTok downsized their gaming departments last year, many companies also downsized their workforces.
Now a new one is added to these companies. Riot Games, the owner of many popular games such as Valorant and League of Legends played all over the world, said that it will lay off 530 employees, which constitute approximately 11 percent of the global workforce.
A big reason for this layoff is that the company has hired many new employees recently. Riot Games said its headcount has more than doubled in the past few years.
Dylan Jadeja, chief executive officer of Riot Games, said that “costs have reached an unsustainable point.” Additionally, the company announced that the layoffs would affect those outside the core team the most.
Riot Games will give “separation packages” to those it fires
Riot Games is also giving a “separation package” to the employees it will lay off. The full package that Riot Games will give to dismissed employees is as follows:
- Six months salary
- Visa support, mental support and health insurance support
- career coaching
- Computer support for those who do not have a computer at home
- $1000 game and health fund support
- Individual performance bonus for 2023
Riot Games says that from now on it will focus more on its live game portfolio such as League of Legends, Valorant, Teamfight Tactics and Wild Rift. It is not surprising that the company, which makes profits especially from League of Legends and Valorant, decided to focus more on its game portfolio.
Compiled by: Ömer Kağan Selen