In a formal announcement and internal memo to the teams at Sony Interactive Entertainment, CEO of the Studio Business Group at PlayStation, Hermen Hulst, announced a reduction in force at Bungie and partner studios within SIE. While a specific number of affected employees wasn’t clarified, estimates put it between 200-500 employees.
You can find the formal announcement from both Bungie and Hulst below:
Meanwhile Bungie posted the following across social media:

