Sony-owned Bungie cuts 220 jobs: Read CEO’s message explaining the layoffs

Sony-owned Bungie, the video game studio behind the Destiny franchise, is cutting 220 jobs, or 17% of its staff. In a blog post, Bungie CEO Pete Parsons announced the layoffs and attributed the latest round of job cuts to rising development costs and economic challenges.
Apart from this, Parsons also noted that 155 Bungie employees will be transferred to other roles within Sony Interactive Entertainment.