Polygon Implements Significant Workforce Reduction Amid Strategic Shift

According to PANews, Polygon has recently undertaken substantial internal layoffs, with approximately 30% of its workforce being dismissed this week. Several employees and ecosystem members associated with Polygon have shared news of their departures or team changes on social media. These layoffs follow Polygon's strategic pivot towards the stablecoin payment sector and its acquisition of Coinme and Sequence for a total of $250 million. Kurt Patat, Communications Director at Polygon Labs, confirmed that the layoffs are part of post-acquisition team integration efforts, and the overall company headcount is expected to remain stable.