• Polygon has reportedly laid off nearly 30% of its workforce, based on insider information and emerging social media reports.
• The cuts follow Polygon’s pivot toward stablecoin payments and its $250 million acquisition of Coinme and Sequence.
• Polygon confirmed that the layoffs are part of post-acquisition integration, and overall headcount is expected to remain stable.

Polygon has carried out a large internal round of layoffs, according to multiple people familiar with the matter. Industry insiders told BeInCrypto that roughly 30% of staff were dismissed this week.

Across social media, several Polygon-linked employees and ecosystem figures are posting about exits and team changes.

Sponsored

Sponsored

Major Strategic Shift for Polygon?

This is not the first time the layer-2 network executed a mass layoff. Back in 2024, the company fired nearly 20% of its workforce.

The timing fits a broader restructuring that Polygon already signaled in recent weeks. Earlier this month, Polygon Labs said it was realigning its workforce around a new payments-first strategy, after a major pivot away from pure scaling and DeFi narratives.

That shift followed Polygon’s $250 million-plus acquisition spree, which included Coinme, a US-regulated fiat-to-crypto on-ramp, and Sequence, a wallet and cross-chain payments infrastructure provider. 

Together, those assets form the backbone of what Polygon now calls its Open Money Stack, a vertically integrated system for regulated stablecoin payments and on-chain money movement.

Earlier today, Polygon CEO confirmed on X that the company had to make the difficult decision to consolidate some of the roles following the acquisitions.

At the same time, Polygon has continued to push network upgrades. Its Madhugiri upgrade recently increased throughput and prepared the chain for higher transaction volumes. 

These changes have also played out in the market. Polygon’s native POL token rallied sharply in recent weeks. 

Yet internally, the transition appears to have come at a cost. Although some social media posts claim several layoffs were done via email, Polygon has clarified the issue with BeInCrypto.

“Each impacted employee is having a live, direct conversation with their manager. The restructuring is tied to post-acquisition integration. With the addition of the Coinme and Sequence teams, overall headcount is expected to remain roughly even,” Kurt Patat, Head of Comms from Polygon Labs told BeInCrypto.

For now, Polygon has not confirmed the reported layoffs. But with staff departures now visible across social platforms.

Disclaimer