Bungie CEO spent $2.3 million on cars during studio layoffs

Last Wednesday (31), the Bungie has announced a mass layoff, resulting in the departure of 220 employees from the company — which represents 17% of its total workforce. Well, even with the exodus, the studio’s CEO, Pete Parsons, seems to be quite comfortable buying expensive cars on auction sites.

Since Bungie was acquired by Sony in February 2022 for $3.6 billion, the executive has apparently spent more than $2.3 million on cars and motorcycles through the US auction site Bring A Trailer. Several of the purchases from the account in question occurred in the months surrounding the mass layoffs at the studio.

Parsons reportedly spent $2.3 million on cars while Bungie laid off employees

In announcing the layoffs last Wednesday (31), Parsons wrote that Bungie had been “overly ambitious, our financial safety margins were subsequently exceeded and we began to run in the red.”

Well, since news broke of these latest layoffs, which follow another round of cuts in October 2023, an account on the classic car auction site Bring A Trailer with the username “bngpparsons” came to light.

The person who found the account in question was the player association program manager at ValuingTaylor “Tailored” Broomall. In a post on X (formerly Twitter), he claims the account has accumulated more than $2 million in winning bids since September 2022 and is owned by Parsons.

Bungie lays off 17% of it’s workforce… unrelated here is a list of cars the CEO has purchased on BAT

Players and workers need to support each other.https://t.co/48qToI4Cf7

— TAILORED (@boxrTailored) July 31, 2024

“Bungie lays off 17% of its workforce… unrelated, here’s a list of cars the CEO bought in Bring A Trailer“, Broomall wrote on social media. “Players and workers need to support each other.”

Overall, the purchases made through Parsons’ account total $2,414,550 — a relatively large amount for someone to spend with a company in crisis. That includes $201,000 spent on a bid for a 1971 Porsche 911S Coupe on November 22 of last year, less than a month after news of the first round of layoffs at Bungie broke.

Pete Parsons, CEO of Bungie who reportedly spent more than $2.3 million on cars even as the company struggled.Fonte:  We Got This Covered

Well, it’s unclear whether the millions spent on the collection came from the Sony acquisition or from Parsons’ work throughout his career at Bungie. However, there’s also no evidence of any pay cuts for the company’s top executives amid the layoffs. Fair enough, huh?

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