Riot Games Inc., a subsidiary of Tencent since 2011, is an American video game developer, publisher, and esports tournament organizer. It was founded in 2006 and is headquartered in Los Angeles, California.
According to recent reports, Riot Games will lay off 530 employees, which amounts to about 11% of its global workforce. This change is supposedly implemented in an effort to reduce costs within the company, citing an unnecessary surge in hiring that occurred during the pandemic. The report also mentions that Riot will stop new game development under Riot Forge and focus more on its portfolio of live games.
Tencent Holdings is a Chinese multinational technology and entertainment conglomerate and holding company. It is headquartered in Shenzhen and was founded in 1998. It is one of the highest grossing multimedia companies based on revenue and is also the largest company in the gaming industry by investments.
