It uses an all-new Bungie made engine with unique online connectivity and matchmaking. They allege the game is a massively online FPS called Destiny.
Around 30 or so contractors for the studio have been let go which isn't uncommon once a major project has finished, which would be Halo: Reach. Bungie creative director Joseph Staten heavily hinted they'd be doing something with a persistent world.
Bungie has in fact responded to the alleged layoffs. "The claim is false," the studio. They completely ignore the second half of the rumour to do with 'Tiger'.
"Bungie has never been asked to lay off any employees or contract employees by our publisher, Activision-Blizzard, for any reason. The talented professionals who grace our offices day in and day out are the lifeblood of Bungie – our most cherished commodity – and the unsubstantiated rumors posted today are in direct opposition to the culture and values that we believe make Bungie an exceptional place to work, and to call home."
As part of Bungie's ten year deal with Activision they are developing a multiplatform IP. Does Bungie have what it takes to make the MMOFPS scene as enticing as Halo?