The restructuring comes as the company integrates new payments assets and narrows its mandate, with several employees saying on X that they were affected by the layoffs.
Polygon Labs has cut personnel as it pivots more aggressively to a payments-first strategy built around stablecoin rails and what it calls an “Open Money Stack,” a new, vertically integrated set of services designed to move money onchain.
The layoffs came just days after announcing a deal worth as much as $250 million to acquire US crypto ATM and payments company Coinme and wallet and developer platform Sequence.
Polygon did not publicly disclose how many roles were eliminated, but according to multiple sources on social media platforms like X, a reduction as large of 30% in staff has been linked to the post‑acquisition integration.
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