Polygon Labs Lays off 100 employees

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On Tuesday, Polygon Labs, the Ethereum scaling platform, announced that it has reduced its workforce by approximately 20%, resulting in around 100 job cuts.

The crypto industry is currently experiencing the aftermath of the FTX collapse and ensuing downturn, and it is in this context that the job cuts at Polygon Labs, the Ethereum scaling platform, have taken place.

The company says, “We’re sharing the difficult news that we’ve reduced our team by 20%, impacting multiple teams and about 100 positions. As part of this process, earlier this year, we consolidated multiple business units under Polygon Labs,”

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