Bloomberg reports that executives at Bungie told employees two weeks ago that Destiny 2 was running some 45% below revenue projections for the year, following a disappointing reception to expansion Lightfall. Lightfall was released in March, and there was a subsequent drop in player retention.
Dozens of employees woke up to ominous 15-minute meetings scheduled for Monday morning, where they learned their positions were affected. Things get exceptionally dodgy when you consider the timing of the layoffs. As reported by Paul Tassi of Forbes and corroborated by Bloomberg, employees who were let go will receive three months of severance and Bungie-paid COBRA health insurance. Other benefits, however, would only last until the end of the month, so yesterday, the day after the news came down.
Further, some employees are entitled to unvested shares, which are put aside until a specific requirement has been met (in this case, staying with Bungie for a set number of years). According to one of Tassi's sources: "Those shares revert to Bungie if you leave, even if you're fired, which is what's happening now to many of those affected."