Outrage as Sony’s Bungie lays off employees while CEO splurges millions – scandalous details inside!

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Video game developer Bungie, which is owned by Sony (SNEJF) , has just made a major change that is sparking backlash on social media.The company, which has developed popular games such as “Destiny” and “Halo,” just eliminated 220 job roles within the company due to financial difficulties, shrinking its workforce by 17%.Related: Intuit CEO’s letter to employees announcing layoffs goes viral“I’m sharing with all of you some of the most difficult changes we’ve ever had to make as a studio,” wrote Bungie CEO Pete Parsons in a memo on July 31. “Due to rising costs of development and industry shifts as well as enduring economic conditions, it has become clear that we need to make substantial changes to our cost structure and focus development efforts entirely on Destiny and Marathon.”Parsons states that the decision came after the company rapidly expanded its talent during a “broad economic slowdown” that caused a “sharp downturn” in the gaming industry. He claims that the move was “necessary” to make after the company exhausted “other mitigation options.”More Labor:Disney cast members violate a controversial rule at theme parkBridgewater Associates ex-intern reveals bizarre company policyDell workers ignore return-to-office mandate“We were overly ambitious, our financial safety margins were subsequently exceeded, and we began running in the red,” said Parsons in the memo. “After this new trajectory became clear, we knew we had to change our course and speed, and we did everything we could to avoid today’s outcome. Even with exhaustive efforts undertaken across our leadership and product teams to resolve our financial challenges, these steps were simply not enough.”Bungie faces sharp criticism for layoffsThe layoffs follow Bungie’s job releases in Octoberwhich resulted in 100 staff members being let go. The move came after Sony paid $1.2 billion for staff retention after it acquired Bungie for $3.7 billion in 2022.Bungie’s latest announcement sparked outrage on social media as some users claimed that leadership at the company should face consequences for failing to prevent the layoffs. I see that 1 Billion $ Sony spent for 'talent retention' has been put to good use. 🤦‍♂️— ZJ Majewski (@ne0mega) July 31, 2024
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well, well, well…if it isn't the consequences of my own actions."Even with exhaustive efforts undertaken across our leadership and product teams to resolve our financial challenges.." Miraculously, all the leadership positions survived the cuts again. Was worried for a sec.— CoolGuy (@CoolGuyGames) July 31, 2024
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So let me get this straight…220 people lost their employment today because of mismanagement from leadership. Last year 100 people also lost their jobs with little to no warning, all because management didn't want to lose control of the company. Pete needs to be held…— Jivesh (@Jivesh1995) July 31, 2024
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Parsons also faced backlash after social media users discovered what appears to be the CEO’s account on a bidding website called Bring a Trailer that revealed Parsons spent $2.4 million on classic cars since September 2022.One employee who was let go from the company alleges that Parsons even invited her to see his car collection two days before she was laid off. Coward. You did this. You chose this. I’m already listed as “do not work with” and I don’t care anymore. You lied to my face. Straight to it. You also invited me to come see your new cars TWO DAYS before you laid me off. Two. Fucking. Days. Leave. Now. pic.twitter.com/nWVGgWXH8J— Sam 🖤 (@TheSamBartley) July 31, 2024
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Bungie’s layoffs come at a time when the tech industry is cutting its workforces at a rapid level. So far in 2024, 384 tech companies have laid off employees, resulting in 124,517 people losing their jobs, according to data from Layoffs.fyi.Related: Veteran fund manager picks favorite stocks for 2024