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To the commenters saying this is just about juicing profits: ok, maybe so, but it seems at least equally plausible that it is what he says it is. Once you've reached the point that you've realized you've made a mistake, it makes sense to act.
Earlier quoted context omitted.
Accountable... to the board, who are loving the efficiencies. Who's upset with this CEO's actions besides the families affected by it, who have no power individually over anything to hold him accountable? They're his capital resources. Executives aren't accountable to that.
But what about being held accountable for all the “significant investments” that didn’t pan out into the expected revenue? The board may be happy that the layoff cuts cost, but is the board happy with a CEO that has made multiple bad bets?
Which bad bets?
Their severance looks good, (6mo minimum, cash bonus, health insurance, computer, etc). Also, kinda weird to being referred as a bet.
Every forward looking business strategy decision is a bet.
Earlier quoted context omitted.
Accountable... to the board, who are loving the efficiencies. Who's upset with this CEO's actions besides the families affected by it, who have no power individually over anything to hold him accountable? They're his capital resources. Executives aren't accountable to that.
But what about being held accountable for all the “significant investments” that didn’t pan out into the expected revenue? The board may be happy that the layoff cuts cost, but is the board happy with a CEO that has made multiple bad bets?
https://www.riotgames.com/en/news/announcing-dylan-jadeja-ri...
Work with us - Open Positions: 0
It's a decent severance package, honestly. But, as usual, > As CEO, I’m accountable for the changes we’re making and where we’re headed in the future. So, I think it’s important for me to share how we got here and how the next few days will work. I see no indication as to how Dylan will actually be held accountable for the decisions that ultimately led to this.
It's a decent severance package, honestly. But, as usual, > As CEO, I’m accountable for the changes we’re making and where we’re headed in the future. So, I think it’s important for me to share how we got here and how the next few days will work. I see no indication as to how Dylan will actually be held accountable for the decisions that ultimately led to this.
Earlier quoted context omitted.
Every forward looking business strategy decision is a bet.
Everything in life in a way could be thought of as a bet. It's all a probabilities game. When you travel, you are betting your airplane doesn't crash, you don't get robbed, kidnapped etc.
Riot Games is profitable, so this is about increasing profits. EDIT: As several people have noted, while Riot Games is private, their majority owne (Tencent) is not. According to Tencent's most recent filings, video game revenue is up by double-digits and they reported profits in the past. Unless Riot is claiming that they increased expenses by double-digit % in Q4, they are profitable.
Why wouldn’t they want to be as profitable as possible? They aren’t a charity.
Really bums me out when I see people getting laid off and they still list a bunch of open job reqs. They were good enough to empty it out... Work with us - Open Positions: 0