According to ChainCatcher, sources close to the matter revealed that Polygon recently carried out a large-scale internal layoff, with approximately 30% of its staff being laid off this week. On social media, multiple Polygon employees and members of its ecosystem have posted updates about resignations or team changes. This round of layoffs occurred after Polygon shifted its strategy toward the stablecoin payment sector and completed a $250 million acquisition of Coinme and Sequence. Kurt Patat, communications lead at Polygon Labs, confirmed that the layoffs are part of post-acquisition team integration measures, and the company's total headcount is expected to remain stable.
Polygon Cuts Nearly 30% of Workforce After Acquiring Coinme and Sequence for $250M
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Summary
Polygon recently announced layoffs affecting nearly 30% of its workforce, as confirmed by communications lead Kurt Patat. The move followed the $250 million acquisition of Coinme and Sequence, shifting the company's focus toward stablecoin payments. On-chain news indicates that the company is streamlining its operations. Ecosystem growth remains a top priority, although team changes are evident through social media posts from employees and partners.
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