Polygon Labs also laid off 20% of its employees around a year ago.
The CEO implied that the impending layoffs are not due to financial reasons.
In a recent post on twitter, Polygon Labs CEO Marc Boiron announced the layoffs of 19% of the team. After several other firms announced layoffs amid last year’s recession, Polygon Labs has decided to fire 60 employees.
Boiron stated:
“We are on a mission to fundamentally change the internet so that everyone in the world is empowered to equitably access its value. Building the infrastructure to make that happen is no easy feat. Regrettably, the team’s rapid growth in the last bull market diluted qualities that enable us to execute in this manner. We must return to those qualities.”
In Interest of Improved Performance
Notable cryptocurrency firms that announced layoffs in 2023 included OpenSea, Binance, and Coinbase. Polygon Labs also laid off 20% of its employees around a year ago.
In addition to implying that the impending layoffs are n
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