Polygon lays off about 30% of staff to focus on stablecoin payment development

Polygon has laid off approximately 30% of its workforce, an adjustment related to the integration following its $250 million acquisitions of Coinme and Sequence. Polygon stated that the layoffs are part of the post-acquisition integration plan, and the total number of employees is expected to remain stable. Previously, Polygon announced a strategic transformation, focusing on the payments sector and promoting the construction of an "open money stack" to support compliant stablecoin payments and on-chain capital flows. The Polygon CEO said that the consolidation of some positions was a necessary decision, but the overall team size will remain roughly unchanged.