Update [Wed 1st Nov, 2023 00:00 GMT]:
Following the initial announcement of layoffs at Bungie, a new report by Bloomberg has now revealed the the decision was made to cut "an estimated 100 jobs", which equates to about 8% of staff overall at the PlayStation-owned studio.
There was apparently a meeting a few weeks ago, where executives revealed Bungie was running 45% below its revenue projections for the year. After the release of the Lightfall expansion, Destiny 2 has struggled to retain players. The next expansion 'The Final Shape' has been pushed back from February to June next year.
Employees who have been let go will apparently receive "at least three months of severance and three months of Bungie-paid" health insurance but other benefits apparently ended on Monday. However, it seems many are set to lose shares. Here's how Bloomberg explains it:
"Laid-off staffers will also receive prorated bonuses, although those who were on a vesting schedule following Sony Group Corp.’s acquisition of Bungie in January 2022 will lose any shares that weren’t vested as of next month."
The layoffs at Bungie are reportedly part of a "larger-money saving initiative" currently taking place within PlayStation, with various other studios impacted.
Original story [Tue 31st Oct, 2023 00:00 GMT]:
This information comes from Bloomberg, and is according to "people with knowledge of the matter". The source has also seen an email issued by Bungie Chief Executive Officer Pete Parsons who informed the studio's employees they would be "hearing some news today" and a team meeting would follow. This has since been confirmed by Parsons, who said it was a "sad day" for the company:
Bungie has most recently pushed back its next Destiny 2 expansion, The Final Shape, which will no longer make the current fiscal year and its revival of the Marathon series, which will reportedly be an extraction shooter, has now apparently slipped back to a 2025 release.
Sony only acquired Bungie last February for the sum of $3.6 billion, at the time Bungie said the potential for its universes with Sony Interactive Entertainment was "unlimited". PlayStation has also recently said goodbye to a number of key figures including boss Jim Ryan and veteran Connie Booth.