Sony’s Bungie cuts staff from 1,300 to 850: 220 laid off, 155 moved to Sony, ~40 to a new studio. CEO Pete Parsons says they “were overly ambitious” and ran into financial trouble. Let’s not forget, two years ago:

Though Bungie employees said leadership has assured them there will be “absolutely no layoffs” and nothing “major” in terms of restructuring once the Sony deal closes

Very sad. Sidenote: Reports suggest Parsons spent $2.4m on 25 cars in the past two years…