Polygon Labs said to have laid off 60 staff following new $250 million acquisition

2026-01-16 20:57:36

Source: CryptoNewsNet Original Title: Polygon Labs said to have laid off 60 staff following new $250 million acquisition Original Link: Polygon Labs, the firm behind the Ethereum scaling network Polygon, has laid off 60 staff after its acquisition of Coinme and Sequence for more than $250 million.

The layoffs came as the company is pivoting to a payment-focused blockchain, with changes affecting teams across the organization rather than any one function.

Rumors of a new round of layoffs began swirling after several reports of a 30% workforce cut. A Polygon Labs spokesperson refuted the reported percentage, saying the firm did not downsize its payroll, as it still has nearly 200 people after integrating the new acquisitions. The layoffs were part of a restructuring following recent acquisitions, the spokesperson said, without commenting on how many people were affected.

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