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.
These layoffs are always for shareholders as share prices go up when the layoffs happen. It’s not about cash flow. It’s purely about shareholders.
Share prices go up always affects c suite the most. They get better returns on the shares they own and also get large bonuses. Far from take responsibility, a ceo massively profits from layoffs.