Bungie CEO Pete Parsons's statement explaining the reasoning behind laying off 220 employees, some 17% of Bungie's staff, is illuminating. In it, Parsons describes a company that overextended, expanding into too many projects as it tried to incubate multiple games while making Destiny 2, the studio's successful live-service game, and Marathon, a revival of a storied Bungie franchise. "We were overly ambitious, our financial safety margins were subsequently exceeded, and we began running in...