Polygon Layoffs Nearly 30%, Shifts Focus to "Payments First" Strategy

BlockBeats News, January 16th, according to BeInCrypto, according to multiple sources familiar with the matter, Polygon has undergone a large-scale internal layoff. Industry insiders say about 30% of the staff were let go this week. This is not the first time Polygon has conducted a large-scale layoff. As early as 2024, the company laid off nearly 20% of its staff.

The timing of this layoff aligns with Polygon's recent announcement of a broader restructuring plan. Earlier this month, Polygon Labs stated that it is reorganizing its staff around a new "payment-first" strategy, marking a significant shift from a focus on just scaling and DeFi narratives.

This transformation comes after Polygon's flurry of over $250 million in acquisitions, including Coinme (a U.S.-compliant fiat onramp into crypto) and Sequence (a wallet and cross-chain payment infrastructure provider).