Riot Games' Global Workforce Reduction and Arcane Season 2 Update
Riot Games, owned by Tencent, is laying off 11% of its global staff, affecting about 530 roles, citing the need to focus on areas that drive the most player value and reduce spiraling costs. The company, known for games like "League of Legends," had aggressively pursued new sources of growth since 2019 but now aims to refocus on its core games and reduce the team behind "Legends of Runeterra" and wind down "Riot Forge." The layoffs come amid broader job cuts in the tech and media industries, and coincide with China's gaming regulator removing draft rules aimed at curbing spending in online video games, leading to a rise in the stock prices of Tencent and NetEase.
- Tencent’s Riot Games lays off 11% of staff globally CNN
- Changes at Riot and the Road Ahead Riot Games
- Riot Games Slashes 530 Jobs: “It’s a Necessity” Hollywood Reporter
- Riot Games cuts more than 500 jobs The Verge
- Arcane Season 2 still 'on track' despite Riot downsizing Dot Esports
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