Most of the job listings say something to the effect that employment may be project-based or temporary. That would really suck for a developer with specialized game dev skills. Do employees feel like they have to outshine others to keep from being let go? I'm envisioning that scene from The Dark Knight where there are three guys and two sharp sticks. Is that how it works at Bungie?
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Well, Bungie being a pretty prestigious place, I imagine that their hiring policies are fairly stringent. So regular employees are probably pretty secure if they don't -blam!- up too badly. Bungie also hires contract employees, and it's made clear to them that they're working for a certain amount of time. Contract employees can become full-time Bungie employees, but I imagine that's more likely the exception than the norm. The people who are let go after a project are the kind who should be aware that that's probably what's going to happen.