Polygon Reportedly Cuts Nearly 30% Of Staff In A Mass Layoff

What Happened

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, although the company has not made any public announcement.

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.

Market Context

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

Why It Matters

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.

Details

Meanwhile, reports have begun circulating on social media, with several Polygon-linked employees and ecosystem figures posting about abrupt exits and team changes. Polygon Labs has not yet responded to requests for comment.

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.

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.

Yet internally, the transition appears to have come at a cost.

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

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