"Riot Games' Major Workforce Reduction and Restructuring"
TL;DR Summary
Riot Games is laying off 11% of its global workforce, citing the need to refocus its business and prioritize core projects like League of Legends, Valorant, Teamfight Tactics, and Wild Rift. The company is also discontinuing its Riot Forge label, which was established to produce games from third-party studios using Riot IP. The layoffs come amid a trend of mass layoffs and industry challenges, with an estimated 10,000 individuals losing their jobs in the gaming industry last year and the number rapidly approaching 4000 in the first month of 2024.
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