Bungie CEO splurges $2M on classic rides post-Sony deal
Aug 01, 2024 9:47 AMBungie CEO Pete Parsons has spent over $2 million on classic cars and motorcycles through auction site Bring A Trailer since Sony acquired the studio in February 2022. This revelation coincides with recent layoffs at Bungie, which included 220 staff being laid off, 155 integrated into Sony, and 40 shifted to a new PlayStation studio. Parsons acknowledged the company's financial struggles in a public statement, admitting Bungie had become "overly ambitious" and exceeded its financial safety margins. The timeline of Parsons' auction winnings, including a 1973 Datsun 240Z and a 1961 Chevrolet Corvette, has raised eyebrows, given the backdrop of mass layoffs. Bungie's approach to financial challenges, such as not opting for leadership salary cuts to prevent layoffs, has also been criticized.
How have Bungie's financial decisions affected its workforce?Bungie's financial missteps have led to significant layoffs, with 220 staff members recently losing their jobs. The cuts were attributed to the company being "overly ambitious" and exceeding its financial safety margins. Bungie's strategy did not include leadership salary cuts to prevent layoffs, which has faced criticism from both employees and the gaming community.
Destiny 2 is an online multiplayer first-person shooter developed by Bungie, initially released in 2017. The game has continued to evolve with numerous expansions and updates. Despite recent financial strains and layoffs, Destiny 2 remains one of Bungie's flagship titles, maintaining a robust player base and ongoing content development.
Casey Loh
Casey Loh is a tech-savvy writer who specializes in the intersection of gaming and technology. With a background in computer science, Casey brings a technical lens to her reviews, breaking down the nuts and bolts of game engines, graphics, and AI innovation.
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Mr. Bison commented on: 2024-08-01 10:12:03
It's pretty disheartening to see how poor financial decisions at the top can impact the hardworking folks down the line. Bungie's leadership could've taken a more empathetic route, but unfortunately, their actions paint a different picture.
Rolling R!ck commented on: 2024-08-01 10:00:05
Dang, hard times for Bungie It's wild that Parsons splurged on classic cars amidst all this; the timing couldn't be worse with those recent layoffs.
Sephiroth commented on: 2024-08-01 09:54:02
It's pretty disheartening to see leadership's spending priorities set against layoffs at Bungie. It really makes one question the long-term sustainability and morale impact on the studio while they continue to develop beloved titles like Destiny 2.
