Polygon has carried out a big inside spherical of layoffs, in accordance with a number of individuals accustomed to the matter. Trade insiders advised BeInCrypto that roughly 30% of employees have been dismissed this week.
Throughout social media, a number of Polygon-linked workers and ecosystem figures are posting about exits and workforce adjustments.
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Main Strategic Shift for Polygon?
This isn’t the primary time the layer-2 community executed a mass layoff. Again in 2024, the corporate fired practically 20% of its workforce.
The timing suits a broader restructuring that Polygon already signaled in latest weeks. Earlier this month, Polygon Labs stated it was realigning its workforce round a brand new payments-first technique, after a significant pivot away from pure scaling and DeFi narratives.
That shift adopted Polygon’s $250 million-plus acquisition spree, which included Coinme, a US-regulated fiat-to-crypto on-ramp, and Sequence, a pockets and cross-chain funds infrastructure supplier.
Collectively, these belongings type the spine of what Polygon now calls its Open Cash Stack, a vertically built-in system for regulated stablecoin funds and on-chain cash motion.
Earlier at the moment, Polygon CEO confirmed on X that the corporate needed to make the troublesome choice to consolidate a few of the roles following the acquisitions.
On the identical time, Polygon has continued to push community upgrades. Its Madhugiri improve not too long ago elevated throughput and ready the chain for greater transaction volumes.
These adjustments have additionally performed out available in the market. Polygon’s native POL token rallied sharply in latest weeks.
But internally, the transition seems to have come at a price. Though some social media posts declare a number of layoffs have been performed by way of electronic mail, Polygon has clarified the difficulty with BeInCrypto.
“Every impacted worker is having a dwell, direct dialog with their supervisor. The restructuring is tied to post-acquisition integration. With the addition of the Coinme and Sequence groups, general headcount is anticipated to stay roughly even,” Kurt Patat, Head of Comms from Polygon Labs advised BeInCrypto.
For now, Polygon has not confirmed the reported layoffs. However with employees departures now seen throughout social platforms.