Tencent's Riot Games to lay off about 11% of staff
Tencent Holdings' Riot Game s plans to lay off 530 employees, or about 11% of its staff globally, the online gaming company said on Monday in a blog that included a letter to employees from CEO Dylan Jadeja. Los Angeles-based Riot, whose popular titles include "League of Legends", said teams outside of core development will see the largest impact from layoffs. Digital Game s publishers are struggling to grow, as audience hold off on buying expensive titles or stick to fewer Game s amid high i NFL ation. Early last year, Electronic Arts Inc cut 6% staff and gave up some office space. "Today, we're a company without a sharp enough focus, and simply put, we have too many things underway. Some of the significant investments we've made aren't paying off the way we expected them to. Our costs have grown to the point where they're unsustainable," Jadeja said in the letter. The changes will allow Riot to focus on its portfolio of live games "...