BlockBeats news: On January 16, according to BeInCrypto, multiple insiders revealed that Polygon has conducted a large-scale internal layoff. Industry insiders said that approximately 30% of the staff were laid off this week. This is not the first time Polygon has carried out a major layoff. As early as 2024, the company laid off nearly 20% of its employees.
The timing of this round of layoffs aligns with Polygon's recently announced broader restructuring plan. Earlier this month, Polygon Labs stated that it is realigning its workforce around a new "payment-first" strategy, following a significant shift away from its previous focus on scaling solutions and DeFi narratives.
This transition occurred following Polygon's acquisition spree exceeding $250 million, which included Coinme (a U.S.-regulated fiat on-ramp to crypto) and Sequence (a wallet and cross-chain payment infrastructure provider).
Polygon Cuts 30% of Workforce Amid 'Payments-First' Strategic Shift
KuCoinFlashShare
Summary
Polygon announced mass layoffs, cutting nearly 30% of its workforce as part of a strategic shift toward a "payments-first" model. The move follows a pivot away from scaling and DeFi exploit mitigation. Recent on-chain news shows the company spent over $250 million acquiring Coinme and Sequence to support its new direction.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.