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Polygon Labs, the organization developing the Polygon (MATIC) infrastructure, has announced the layoff of 20% of its workforce, or around 100 people. The A co-founder of Ethereum layer two solution Polygon Labs has announced that the company will lay off 20% of its staff to “unify the company.” According to Sandeep Ethereum Layer-2 scaling startup Polygon has laid off around 20% of its workforce, or 100 employees, as part of a restructuring exercise amid the ongoing crypto winter. Polygon Labs said on Tuesday it has laid off 100 employees, or nearly 20% of its positions, after it combined multiple business units earlier this year, making it the latest Polygon Labs CEO Marc Boiron announced in a post to X that the organization is laying off 19% of staff, saying the “team’s rapid growth in the last bull market

Polygon Labs Lays Off 20% of Workforce: Restructuring Amid Crypto Winter

Polygon Labs, the organization developing the Polygon (MATIC) infrastructure, has announced the layoff of 20% of its workforce, impacting around 100 people. The news follows a period of rapid growth and a recent merging of various business units within the company.

According to Polygon Labs CEO Marc Boiron, announced in a post to X that the organization is laying off 19% of staff, saying the “team’s rapid growth in the last bull market” necessitated a restructuring. The layoffs are reportedly part of an effort to “unify the company,” as stated by a co-founder of Ethereum layer two solution Polygon Labs.

This decision makes Polygon Labs the latest crypto company to undergo significant changes amid the ongoing crypto winter. Sandeep, a co-founder, stated that Polygon Labs said on Tuesday it has laid off 100 employees, or nearly 20% of its positions, after it combined multiple business units earlier this year.

Ethereum Layer-2 scaling startup Polygon has laid off around 20% of its workforce, or 100 employees, as part of a restructuring exercise. This consolidation aims to streamline operations and position the company for future growth in the evolving Web3 landscape.

Stay updated on the latest developments at Polygon Labs and the impact of these layoffs on the Polygon (MATIC) ecosystem.

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