Hong Kong CNN —
Riot Games, the developer of hit video games like “League of Legends” and “Valorant,” is cutting 11% of staff around the world, becoming the latest tech company to downsize.
The Los Angeles-based company, which is owned by Chinese tech giant Tencent, announced the news Monday, calling the decision to eliminate about 530 roles “critical for the future of Riot.”
In a memo to employees, the publisher blamed the move on spiraling costs and big bets that hadn’t paid off.
“We have to do more to focus our business and center
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