Polygon Labs announced plans to cut its workforce by 20%, with about 100 employees affected. The company stated that “To bring together multiple business units” under the Polygon Labs banner.
“Which is part of the process. We are sharing the difficult news that we have reduced the team by 20% and it affects several teams and approximately 100 positions,” according to a statement tocompanyread
The company’s financials remain strong with balances of over $250 million and over $1.9 billion MATIC ; as the founder said “We have crystallized our strategy for the years to come. to help drive mass adoption of web3 by scaling Ethereum,” they added.
Employees are paid severance pay for 3 months, regardless of their rank. or have time at the company or not Affected employees will be notified of the same in an email. with additional information on the promised dismissal within 3 days
The post Polygon Labs cuts workforce by 20%, founder confirms Strong Financials appeared first on Bitcoin Addict.