TLDR: Riot is downscaling. The severance package is great but it’s another round of layoffs in the industry.
This will also majorly affect Legends of Runeterra. They’re putting the game on life support it seems, and will focus on the PvE mode.
They’re also shutting down Riot Forge, their collaboration with other studios to make smaller games with their IP.
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So basically…
- CEO claims responsibility.
- Employees face the consequences.
That tracks.
Yeah it’s weird how the C-suites never have to personally bear responsibility despite being the one either making these decisions or fostering the environment in which these decisions are made.
How come companies are allowed to fire even one employee before the decision makers are bled of all money they have? Shouldn’t the life-ruining start with the ones who are responsible?!
I guess the reasoning is
The company is doing great => the CEO does a great job
Company needs to downsize=> can’t afford a change in leadership in these trying times
It gets more complicated when the CEO is also a founder/owner
I would be happy if they just didn’t get their bonuses and the downsizing started with their pays ale before anyone got fired. Of we can’t have that, think of their poor third yachts.
I could be wrong here, but the CEO is at the mercy of the board as well in many situations. If they could just manage the company well without pressure to make decisions that benefit the shareholders more than the company itself, you would see more good CEOs.
Since they’re basically pressured into ruining companies a lot of the time, the only reasonable way to hire people is to offer them good severance packages and incentives to do so. If you really held them responsible, no one in their right mind would do it.
But doesn’t that just move the same point?
Why is the board not held accountable for fostering the atmosphere via pressure on the CEO then? So the buck ultimately passes to them, they had every chance to rectify the situation, including replacing the C-suites if they don’t think the current ones are fit for the job?
I know, they just think of the shareholders and their pockets, but that’s my point: If you get money when your decisions make the company more profitable, maybe your decisions should lose you money when they do the opposite.
And specifically, I mean long-term. Not just based on share-price. You meddled with the company. If it tanks, you held X% of their money for Y% of the time, that’s how much you’re in the hole for now as your decisions were ultimately responsible for that percentage of the total decision space cash the company ever had in its time.Plus, I don’t think that excuses CEOs from having 0 integrity. Yeah they could get voted to be replaced, but that doesn’t excuse it. Correct me if I’m wrong, but as an analogy, soldiers are supposed to refuse inhuman orders, no? Just that the board tells them to ruin 1900 people’s lives doesn’t mean they get a clean bill for the moral implications of being the one to pull the trigger on that.
Pluuuuuuus… isn’t it the CEO who would make the decision to take a company private again? So they could always reverse course if they mind the shareholders meddling too much?Neither CEOs nor Boards are less accountable IMO. That just explains why they behave the way that they do. In a better world, there’d be incentives for those in power to do the right thing, but it just doesn’t play out that way much of the time. It’s probably because it’s hard to design those incentives well in the first place while simultaneously preventing bad actors from ruining it.
I don’t take any company seriously that expects their customer base to willingly allow ring zero access.
literally a rootkit bruh
Not even the linux wine hackers feel like removing the DRM just to play the game. They’d rather spend that time on an actual needed software like photoshop.
This isn’t about shareholders, but it just so happens that the share price always goes up after a round of layoffs :)
My friend got “downscaled” today. Real dick move.
Yeah, total dick move given that working for Riot games is a fundamental human right. The bastards!
To be honest, he got what he deserved working for a company like riot.
And nothing of value was lost.
Sucks for the employees, though. I feel for them.
In the tech industry, I’ve always enjoyed watching what those laid-off employees end up moving onto. While most find jobs elsewhere, you occasionally see some employees form new startups, or try something different with what they’ve learned from their big tech job.
I’d love to see a resource that follows up on people that were laid off from X company, and to see what their offshoots are working on themselves, supporting them where possible.
I’ve always enjoyed watching what those laid-off employees end up moving onto.
almost all of the people currently being laid off in tech end up leaving the industry or being unemployed. there are no jobs, and there are massive waves of layoffs everywhere.
Have you got a source on that?
Some industries in tech are hit extremely hard (i.e. recruitment), but as someone that has spent the last year helping those laid off from Amazon to find roles internally and externally, that’s definitely not true in software engineering.
are you trying to suggest that of the tens (hundreds?) of thousands of people laid off in the last year in tech, they all found new jobs super easy?
i’m seeing people be unemployed for 6> months, endlessly interviewing for hundreds of jobs that honestly don’t even exist, just listed.
I’m not playing League, I stopped many years ago. But I liked the lore and am sad to see them shut down further collaborations - they made some nice games.
They made a lot of competitive shit for losers who want to pretend they’ll make it to the big leagues one day.
Ruined King was a fun RPG and Bandle Tale looks like a nice cozy game. I’m not interested in their competitive stuff, but they financed some other studios doing good work with their IP.
