Polygon Reportedly Cuts Nearly 30% of Staff in a Mass Layoff

Polygon has reportedly conducted a significant internal layoff, dismissing nearly 30% of its staff this week, according to sources familiar with the matter, although the company has not issued a public announcement. This action follows Polygon Labs' recent signal of realigning its workforce around a new "payments-first strategy," moving away from pure scaling and DeFi narratives. This strategic pivot integrates recent acquisitions like Coinme and Sequence into what Polygon calls its Open Money Stack, designed for regulated stablecoin payments. This is not the first major reduction, as the company also laid off nearly 20% of its workforce in 2024. While the network continues technical upgrades like Madhugiri and its native POL token has rallied, internal transitions appear to have resulted in job losses, which have been noted by employees on social media.

(Source：BeInCrypto)