League of Legends game maker Riot Games will cut around 530 jobs worldwide, describing the cuts as "necessity".
Riot has developed global hits including League of Legends and Valorant, but has said it has launched too many projects in recent years.
"Today, we are a company without a sharp enough focus, and simply put, we have too much going on," Riot CEO Dylan Jadeja said in an email to employees.
"Some of the significant investments we've made are not paying off the way we expected. Our costs have grown to the point where they're unsustainable."
Jadeja said about 530 jobs, or 11 percent of staff, would be cut globally, without providing a location breakdown.
In addition to the Los Angeles headquarters, Riot's website lists offices in 20 locations, including Berlin, Sao Paulo, Seoul and Sydney.
Thousands of people have lost their jobs in the tech sector over the past 18 months, including at some of the world's biggest gaming companies.
Electronic Arts, Ubisoft and streaming platform Twitch announced layoffs during this period. /BGNES
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