Polygon Labs said to have laid off 60 staff following new $250 million acquisition

Polygon Labs, the firm behind the Ethereum scaling network Polygon, has laid off 60 staff after its acquisition of Coinme and Sequence for more than $250 million, a source familiar with the matter told CoinDesk. The layoffs came as the company is pivoting to a payment-focused blockchain, the source said, noting that the changes affected teams across the organization rather than any one function. The rumors of a new round of layoffs began swirling this week after several reports of a 30% workforce cut. A ...