Polygon Labs announced a fresh round of layoffs on July 16.
This comes as the firm behind the Polygon (POL) blockchain moves to close its acquisition of crypto exchange Coinme and complete its transformation from a "blockchain foundation" into a blockchain-enabled payments company.
CEO Marc Boiron said on X that integrating the Coinme team is part of a broader merger exercise aimed at making Polygon Labs profitable in 2027, and that the company decided to part with many colleagues as it completes the shift.
Related: Polygon CEO explains strategy behind $250M acquisition of Coinme, Sequence
The firm is offering severance and support, and some affected employees will stay on temporarily during a transition period.
This comes as the firm behind the Polygon (POL) blockchain moves to close its acquisition of crypto exchange Coinme and complete its transformation from a "blockchain foundation" into a blockchain-enabled payments company.
CEO Marc Boiron said on X that integrating the Coinme team is part of a broader merger exercise aimed at making Polygon Labs profitable in 2027, and that the company decided to part with many colleagues as it completes the shift.
Related: Polygon CEO explains strategy behind $250M acquisition of Coinme, Sequence
The firm is offering severance and support, and some affected employees will stay on temporarily during a transition period.
2 months ago
