Polygon Labs Slashes 19% Of Workforce To “Boost Performance”
Summary
Polygon Labs has reduced its workforce by 19%, cutting 60 roles to enhance focus, efficiency, and agility. The decision aims to align teams strategically and accelerate progress within the web3 ecosystem. The company emphasized that the move was not financially driven but intended to enhance performance. Additionally, Polygon Ventures has spun off as P2 Ventures, focusing on early-stage web3 projects. The firm remains committed to its strategy of interconnected zero knowledge-based networks and contracts. MATIC, the native token of the protocol, is currently trading at $0.7930, reflecting a 1.5% decrease in the past 24 hours and a year-to-date decline of over 26%.
