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Riot Games, the studio behind the popular video game “League of Legends” and Netflix series “Arcane: League of Legends” has announced massive staff cuts. Approximately 530 employees worldwide will be laid off in the near future. According to the CEO of Riot Games, this will be “critical to Riot’s future.”
“Some of the significant investments we’ve made are not paying off as we expected. Our costs have risen to the point where they have become unsustainable, and have effectively left no room for experimentation or failure, which is vital for a creative company like ours. All of this jeopardises the foundation of our business,” reads the memo to Riot Games employees. The cuts represent about 11 per cent of the company’s global workforce.
