Riot Games, owned by Tencent Holdings, plans to cut 530 jobs worldwide, that is about 11 percent of its total workforce. The online gaming company said this in a blog post. News Reuters.
Riot Games CEO Dylan Jadeja has already informed the employees about the layoffs through a letter.
Los Angeles-based Riot, which owns popular games like League of Legends, said teams outside of the core development team would be most affected by the layoffs.
Digital game publishers are currently facing quite a setback, especially as consumers are losing interest in buying expensive games. Early last year, Electronic Arts Inc. cut 6 percent of its workforce and shed some office space.
