Polygon CEO announces job cuts amid Coinme acquisition
Summary
Polygon Labs is cutting more jobs as it completes its $250 million acquisition of Coinme and wallet infrastructure platform Sequence. CEO Marc Boiron said the company is shifting from a blockchain foundation to a blockchain-enabled payments company, which requires a different structure and talent mix. He emphasized that the layoffs reflect organizational changes, not employee performance. The cuts add to earlier rounds over the past three years that affected more than 200 people. Polygon did not immediately provide further details on the size of the latest layoffs.
