Connect with us

Hi, what are you looking for?

FinancialSourceReport.comFinancialSourceReport.com

Tech News

Riot Games cuts more than 500 jobs

The Riot Games logo on a pink background, surrounded by red blocky shapes.
Image: The Verge

After last year saw over 9,000 layoffs in the video game industry, 2024 is continuing the trend, and League of Legends maker Riot Games is the latest example. On Monday night, the company announced that “we are refocusing on fewer, high-impact projects to move us toward a more sustainable future,” which means eliminating roles for 530 people globally, or about 11 percent of its total workforce.

This news arrives just days after the results of a Game Developers Conference (GDC) survey showed 56 percent of respondents felt layoffs were in store for their studios due in large part to a “post-pandemic course correction.”

CEO Dylan Jadeja said in a company-wide message,…

Continue reading…

You May Also Like

Editor's Pick

As a follow-up to a daily I wrote earlier in January called “Super Cycles Do Not Just Fade Away”, yesterday’s January 23rd daily was...

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, guest John Kosar, CMT of Asbury Research shares his proprietary Asbury Six macro model, which suggests caution...

Editor's Pick

Walter Olson Two years ago in Canada Prime Minister Justin Trudeau invoked the country’s Emergencies Act, a successor to what had been known as the...

Editor's Pick

The island nation of Jamaica has beautiful beaches but a problem with poverty. Jamaica needs capital and free markets, not more state control of...