In a significant move affecting its global workforce, Riot Games, the developer behind popular video games like “League of Legends” and “Valorant,” is set to lay off approximately 11% of its staff worldwide. The decision, announced by the Los Angeles-based company on Monday, comes as Riot Games, owned by Chinese tech giant Tencent, cites the…
In a surprising turn of events, Tencent, a leading player in the global online gaming market, experienced a substantial market value loss of approximately $43.5 billion on Friday following the unveiling of new regulatory guidelines by China. The draft rules, presented by China’s National Press and Publication Administration, sent shockwaves through financial markets, impacting shares…
Chinese tech giant, Tencent has cut over 5,000 jobs and shut down parts of its business as it continues to grapple with its first sales fall in its history. As reported by BBC, revenue at the firm slipped 3% year-on-year in the April-June period, hit by declines in ad spending and at its online gaming…
