Polygon Labs reportedly lays off 30% of workforce

Polygon (POL) Labs has recently laid off 30% of its total workforce, BeInCrypto reported. The move is said to be linked to the company's acquisitions of Coinme and Sequence, which were part of a strategic focus on its Open Money Stack, a modular framework for cross-border stablecoin payments. This follows a previous 20% staff reduction in 2024 that was also not formally announced. News of the latest departures has spread without an official statement from the company.