:Polygon Labs said on Tuesday it has laid off 100 employees, or nearly 20 per cent of its positions, after it combined multiple business units earlier this year, making it the latest digital asset company to execute job cuts. Employees will each receive three months of severance pay, regardless of their level
:Polygon Labs said on Tuesday it has laid off 100 employees, or nearly 20 per cent of its positions, after it combined multiple business units earlier this year, making it the latest digital asset company to execute job cuts.
The decentralised platform that makes digital coin Ethereum more accessible was founded in 2017 as Matic and was rebranded to Polygon in Feb 2021. The crash led to high-profile bankruptcies of key industry players such as crypto hedge fund Three Arrows Capital and Celsius Network.
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