Yesterday, we received the devastating news that Microsoft planned to lay off more than 10,000 of its employees, which would significantly impact multiple divisions within Microsoft.
Now, it appears that Riot Games, the company behind well-known video games like League of Legends and Valorant, has also started laying off their employees, as reporter Jacob Wolf recently shared the information on Twitter.
Riot’s historically not made many reductions in force in the past, but it’s in line with a broader trend in tech, gaming and entertainment as economic hardship begins to affect many corporations.
— Jacob Wolf 🐝 (@JacobWolf) January 19, 2023
According to him, Riot Games is making layoffs, and they have already begun. He also claims that this decision would affect eSports, HR, and support; however, we are unsure of the number of employees being laid off.
Jacob Wolf continues the conversation on Twitter by claiming that although Riot Games has not frequently reduced its personnel in the past, it is reasonable given the current economic hardships these corporations face.
These kinds of layoffs are expected because the epidemic negatively impacted many industries. Still, the tech and gaming sectors appeared to have benefited, leading tech and gaming companies to go on a hiring spree.
Now that the COVID-19 restrictions have been lifted and the possibility of a recession going around, having a larger workforce will be a setback for these major companies, so they are planning on reducing their workforce.
Previously, large corporations like Facebook and Twitter drastically cut the size of their workforces, with Facebook laying off around 11,000 employees and nearly half of its workforce.
We hope this choice will lead to even better prospects for all the affected employees. This is all the current information, but we’ll keep an eye out for more details about the job cuts at Riot Games.
On that note, what do you think about Riot Games also laying off employees? Let us know in the comments section.
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