By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Baner ClubBaner ClubBaner Club
  • Home
  • Business
    BusinessShow More
    Pakistan, China business firms sign $4.2 billion MoUs
    September 4, 2025
    Billions are lost due to top bosses’ massive abuse of the SOEs Act 2023.
    September 2, 2025
    Second phase of CPEC launched with new agricultural and industrial agreements
    October 7, 2024
    The Rupee depreciates 13 paise in interbank trade against the US dollar.
    October 7, 2024
    Reluctant bidders to keep on PIA employees
    October 7, 2024
  • Politics
    PoliticsShow More
    Bilawal asserts that CM Maryam’s efforts need to be acknowledged.
    September 5, 2025
    Saad Rafique condemns ‘egg attack’ on Aleema Khan
    September 5, 2025
    Bilawal asks PM to waive bills for farmers in disaster-hit districts
    September 5, 2025
    Trump’s 200th executive order: US defence secretary to be rebranded
    September 5, 2025
    Bilawal calls for agricultural emergency as floods hit farmers
    September 5, 2025
  • Technology
    TechnologyShow More
    Apple expected to release iPhone 17 lineup on September 9
    September 5, 2025
    Balochistan suspends mobile internet on Sept 5–6 over security concerns
    September 5, 2025
    European nuclear research delegation visits Pakistan: FO
    September 2, 2025
    The government warned: “Without a data strategy, the UK risks losing its leadership in AI.”
    October 7, 2024
    A 10-year-old youngster may be seen on camera traversing a ‘busy’ school playground in a stolen automobile.
    October 7, 2024
  • Sports
    SportsShow More
    Former NZ captain Ross Taylor to play for Samoa in shock comeback
    September 5, 2025
    Full squads revealed for ACC Men’s Asia Cup 2025
    September 5, 2025
    Asia Cup 2025: Players to watch out for
    September 5, 2025
    T20I tri-series: Afghanistan post 171-run target for UAE
    September 5, 2025
    Pakistan defeats the UAE by 31 runs in the T20 Tri-series 2025, with Fakhar and Abrar shining.
    September 4, 2025
  • Job Portal
  • Matrimonial
  • Marketplace
  • Chat Room
  • More
    • Blog
    • Interests
    • Contact Us
Reading: Tencent’s Riot Games reduces employment worldwide by 11%.
Share
Notification
Font ResizerAa
Font ResizerAa
Baner ClubBaner Club
Search
  • Home
  • Business
  • Politics
  • Technology
  • Sports
  • Job Portal
  • Matrimonial
  • Marketplace
  • Chat Room
  • More
    • Blog
    • Interests
    • Contact Us
  • Privacy Policy
  • Terms and Conditions
© 2022 BanerClub. All Rights Reserved.
Baner Club > Blog > Business > Tencent’s Riot Games reduces employment worldwide by 11%.
Business

Tencent’s Riot Games reduces employment worldwide by 11%.

Riot Games, a division of Tencent Holdings, announced plans to eliminate 530 positions, or roughly 11% of its total workforce worldwide.

Last updated: 2024/01/23 at 9:58 AM
Published January 23, 2024
Share
2 Min Read
SHARE

Staff was informed by Chief Executive Dylan Jadeja that “our costs have grown to the point where they’re unsustainable”.

Based in Los Angeles Layoffs will have the biggest effect on teams outside of core development, according to Riot.

According to the online gaming company, its primary focus will be on its selection of live games, which includes Teamfight Tactics, League of Legends, Wild Rift, and Valorant.

The most recent company to cut staff in the gaming sector is Riot Games.

Last year, Niantic, the company behind Pokemon Go, Ubisoft, the company behind Assassin’s Creed, and Amazon both announced cuts to their gaming divisions. ByteDance, the owner of TikTok, also downsized its gaming division.

The widespread hiring that took place at the onset of the pandemic in 2020 is partially to blame for the sector’s job losses.

Riot Games admitted to having “more than doubled in headcount” in the previous years.

Sales began to decline when lockdowns were lifted globally. In addition, buyers are delaying purchasing pricey games or playing fewer of them due to the high rate of inflation.

This is true even though players have access to a wide selection of highly regarded games, such as Spider-Man 2, Zelda: Tears of the Kingdom, and Baldur’s Gate 3.

While unexpected hits like Sea of Stars, Hi-Fi Rush, and Dave the Diver were released, new entries in the Super Mario and Sonic the Hedgehog franchises have also received positive reviews.

“Today, we’re a company without a sharp enough focus, and simply put, we have too many things underway,” Mr. Jadeja says, announcing the cut.

Riot has announced that it will no longer be developing new games under Riot Forge and will be removing certain features from Legends of Runeterra, citing the game’s poor performance.

In addition to its 2011 acquisition of Riot Games, Tencent also owns stock in Epic.

You Might Also Like

Pakistan, China business firms sign $4.2 billion MoUs

Billions are lost due to top bosses’ massive abuse of the SOEs Act 2023.

Second phase of CPEC launched with new agricultural and industrial agreements

The Rupee depreciates 13 paise in interbank trade against the US dollar.

Reluctant bidders to keep on PIA employees

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin January 23, 2024 January 23, 2024
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link
Share
Previous Article Man accused of stalking Taylor Swift near her New York residence.
Next Article In California, a city does not have house numbers. This is the rationale behind their recent action.
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow
Youtube Subscribe
Dribbble Follow
- Advertisement -
Ad imageAd image

Latest News

Hamas releases video of two Israeli hostages held in Gaza
War September 5, 2025
Apple expected to release iPhone 17 lineup on September 9
Technology September 5, 2025
The United States claims that two Venezuelan military planes near a Navy ship in international waters
Defence United States September 5, 2025
Strong aftershocks hit Afghanistan after earthquakes kill 2,200
News September 5, 2025
//

Where headlines meet insight, and stories shape perspectives. Your gateway to informed perspectives and captivating narratives.

Top Categories

  • BUSINESS
  • POLITICS
  • TECHHot
  • HEALTH
  • News
  • Technology
  • Fashion

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Baner ClubBaner Club
Follow US
© 2025 BanerClub. All Rights Reserved.
  • Privacy Policy
  • Terms and Conditions
Pay with Paypal

Login

Register

Please enter your username or email address. You will receive a link to create a new password via email.

Loading Back to login
Forgot Password
Facebook Login Loading...
Registration is currently disabled.
  • Login
  • Sign Up
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
body::-webkit-scrollbar { width: 7px; } body::-webkit-scrollbar-track { border-radius: 10px; background: #f0f0f0; } body::-webkit-scrollbar-thumb { border-radius: 50px; background: #dfdbdb }
Welcome Back!

Sign in to your account

Lost your password?