Tencent’s ‘League of Legends’ developer Riot Games announces layoffs of 530 staff

BANGKOK — Riot Games, the developer of the popular “League of Legends” multiplayer battle game, is joining other tech companies that have been trimming their payrolls with a layoff of 11% of its staff.

In a lengthy statement to staff issued late Monday, CEO Dylan Jadeja and co-founder and president of the company Marc Merrill said the move was meant to “create focus and move us toward a sustainable future.” It said 530 jobs were being eliminated, accounting for about 11% of the headcount at the company, which is owned by the Chinese technology giant Tencent.

A note to customers said, “This isn’t to appease shareholders or to hit a quarterly earnings number—it’s a necessity.”

The Los Angeles, California-based company said it had expanded its investments across too many areas, doubling its staff in a few years, and now was cutting back to focus on games.

“Today…