Video game company Riot Games is laying off 530 workers, mainly in teams outside of core development functions.
The cuts, equal to about 11% of the company’s workforce, come as more than 10,000 video game workers have been laid off since the beginning of last year.
While Riot has seen success with animated series “Arcane” and multiplayer online game “League of Legends,” other investments “aren’t paying off the way we expected them to,” Chief Executive Dylan Jadeja said.
“Our costs have grown to the point where they’re unsustainable, and we’ve left ourselves with no room for experimentation or failure — which is vital to a creative company like ours.”
