Bungie

Dear Team,

Translation: Dear Remaining Employees,

Today I want to share a difficult update regarding Bungie.

Translation: Today I'd like to explain why maximizing shareholder value now requires fewer people than it did yesterday.

We have made the decision to reduce Bungie's workforce, affecting a significant number of employees, including most of the Destiny team and some Marathon team members. There are also reductions across SIE teams that support Bungie's operations. Those impacted at Bungie and within SIE are being informed today.

Translation: After reviewing our portfolio, we concluded that shareholder capital would generate higher expected returns somewhere other than employee compensation. As a result, much of the Destiny team, portions of the Marathon team, and the people supporting both have been converted from recurring operating expenses into improved operating margins. Everyone affected is learning about it today because uncertainty hurts productivity and gives people time to update their résumés on company Wi-Fi.

This is painful news, especially for talented colleagues whose roles have been eliminated. This decision was made only after extensive discussion and careful consideration, and I want to provide some context on how we arrived here. Over the past several months, together with Bungie leadership, we reviewed the studio's long-term direction, development priorities, resource needs, and role within our broader portfolio strategy. We explored multiple alternatives before concluding that a reduction was necessary to align the studio's resources with its current priorities and long-term goals.

Translation: We recognize many of the people being laid off are exceptionally talented. Fortunately, talent itself is not the metric that determines employment. The relevant question is whether keeping someone employed generates more shareholder value than removing their salary from next quarter's expenses. After months of spreadsheets, forecasts, portfolio reviews, and PowerPoint decks, the answer was "no" for a significant number of people. "Aligning resources with long-term priorities" is executive shorthand for "the spreadsheet says we'd rather spend this money somewhere else."

As Bungie recently shared in its Destiny 2 update, the studio has begun a new journey following the release of the game's final live-service content update. What Bungie has accomplished with Destiny over the past decade has been truly remarkable. The franchise has left a lasting mark on players and the industry, and everyone who contributed to its success should be proud of what they helped create.

Translation: Destiny generated billions of dollars, built Bungie's reputation, and became one of the defining franchises in modern gaming. Thank you for making all of that possible. Unfortunately, once a franchise enters a lower-growth phase, the people who created that value often become less valuable than the margins created by eliminating their positions. We appreciate your legacy; we just don't intend to keep paying for it.

Marathon remains an important part of our portfolio, and we will continue to support the team as they build on the strong foundation established in Season 1 and 2, and as they work on incubation efforts for future projects. While it's too early to discuss, we are encouraged by the creativity and opportunities that lie ahead.

Translation: We're not reducing investment: we're reallocating it. Projects with compelling future growth narratives continue receiving funding because future revenue is worth more than past success. Projects whose biggest selling point is "they've been successful for years" receive heartfelt appreciation and budget reductions.

Our immediate priority is supporting affected employees through this transition. We are providing transition support and, where possible, working to identify opportunities across SIE and our global network of studios.

Translation: Our immediate priority is minimizing the reputational fallout. Generous severance and internal placement efforts are substantially cheaper than developing a reputation for discarding legendary developers without ceremony. Employer branding is an asset too, and we'd like to preserve as much of it as possible.

I want to sincerely thank every affected employee for their hard work, creativity, and contributions to Bungie, SIE, and the broader gaming community.

Translation: Thank you for dedicating years of your career to creating enormous value for players, Sony, and our shareholders. Your reward is the knowledge that you successfully maximized enterprise value right up until the point your compensation became a less attractive investment than our next strategic initiative.

I know today's news is deeply difficult not only for those leaving, but for those colleagues and friends that remain. Please take the time you need to process this news and support one another.

Translation: Today's announcement should also serve as a useful reminder to everyone still employed: no amount of past success permanently secures future employment. The same company that once described your departing teammates as indispensable has now demonstrated that every salary has a price at which it becomes expendable. Once you've finished processing that realization, we'll need you to absorb some of the work left behind.

Thank you for your resilience and continued support during this difficult time.

Translation: Get fucked.