Riot Games, a subsidiary of Tencent, trims 530 positions, citing a loss of focus. .

Image Credits: www.riotgames.com

On Monday evening,Riot Games disclosed plans to reduce its workforce by 530 employees, constituting approximately 11% of its global staff and spanning various departments. In a communiqué addressed to the community, signed by departing CEO Marc Merrill and incoming CEO Dylan Jadeja, the company emphasized that the primary impact would be felt in teams outside the core development divisions responsible for League of Legends, Valorant, Wild Rift, and Teamfight Tactics.

The affected employees are assured a minimum of six months of salary, a cash bonus equivalent to their 2023 Annual Performance Bonus target, irrespective of their tenure (including those who joined within the last year), and health benefits extending until their final day of employment. Additional compensation equivalent to the duration of the severance pay will cover health benefits such as medical, dental, and vision. Riot Games will provide a $1,000 allowance to address expenses previously covered by the Play Fund & Wellness Fund.

Employees will retain access to a computer after returning their work devices and receive job placement services for a six-month period. A three-month window of access to the Rioter Assistance Program, offering emotional, legal, and financial support, is also extended. The company pledges support for individuals holding work-related visas and grants limited access to Riot emails based on the specific region of employment for an extended yet restricted duration.