Polygon Lays Off 20% of its Staff

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Blockchain platform Polygon has recently announced it is reducing its workforce by about 20%, which means that around 100 employees will leave the company.

The company consolidated at the beginning of 2023 several divisions under a single brand – Polygon Labs.

The project has noted that the Treasury holds more than $250 million and 1.9 billion MATIC (~$2.64 billion).

According to the statement:

“The outgoing members of the team have played a historic role in building the technology and ecosystem of Polygon, which has become a globally recognized blockchain today. These people will always be part of the community.”

The affected employees will receive compensation equal to three monthly salaries, regardless of their length of service at Polygon Labs.