{"id":74432,"date":"2023-02-21T17:59:06","date_gmt":"2023-02-21T15:59:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74432"},"modified":"2025-09-09T20:05:46","modified_gmt":"2025-09-09T17:05:46","slug":"polygon-team-to-cut-staff-by-20","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/polygon-team-to-cut-staff-by-20\/","title":{"rendered":"Polygon team to cut staff by 20%"},"content":{"rendered":"<p>The blockchain platform Polygon <a href=\\\"https:\/\/polygon.technology\/blog\/consolidating-teams-within-polygon-labs\\\">announced<\/a> a 20% staff cut. The layoffs will affect about 100 employees.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier this year the company consolidated several units under a single brand \u2014 Polygon Labs.<\/p>\n<p>\\n\\n<\/p>\n<p>The project noted that the treasury holds more than $250 million and 1.9 billion MATIC (~$2.64 billion).<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe departing team members played a historic role in building Polygon&#8217;s technology and ecosystem, which has today become a globally recognised blockchain. These people will always be part of the community,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The laid-off employees will receive compensation equal to three months&#8217; salary, regardless of their tenure at Polygon Labs.<\/p>\n<p>\\n\\n<\/p>\n<p>In the wake of the layoff news, the MATIC token fell 5.7% in 24 hours (CoinGecko). However, the asset has gained almost 20% over the past week. Since the start of 2023, the price has risen by nearly 95%, with the token trading near $1.47.<\/p>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh6.googleusercontent.com\/RH3Fi4drhiEkcOhRJj5MDNrpvG_E3WpwFLxG2-L9CVSWCpCYZ15L22dX_6x93G8moQXmUTwbp4FnJ2DaDBDJyQl72HgrzFG-HRcTFRaEwLgODzkQfsWoDuCyBEsFdSQheTXQ2xMuLZFnjbiiAAq7jCM\\\" alt=\\\"Polygon team to cut staff by 20%\\\" \/><figcaption>Data: <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/polygon\\\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh6.googleusercontent.com\/KdLhAEgOahAANIT6T9TBFEkZ4Pp-k_5w8fLM-6o_M6j158dxoqeV2KL2C4aG8ZykIxriY8VQIGhkoK9tuimjHWRAaMm5DEllFONXVO0BdcCut_cGYhmcLD4EBTd1kHkcrChAXTwn3Wz3L3nxnSKNiNM\\\" alt=\\\"Polygon team to cut staff by 20%\\\" \/><figcaption>Data: DeFi Llama.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<p>As of March 27, the project&#8217;s developers <a href=\"https:\/\/u1f987.com\/en\/news\/polygon-announced-the-beta-launch-of-its-zkevm-scaling-solution\">planned to launch<\/a> the beta version of the zkEVM mainnet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The blockchain platform Polygon announced a 10% staff cut. The layoffs affected about 100 employees.<\/p>\n","protected":false},"author":1,"featured_media":74433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1264],"class_list":["post-74432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-polygon-matic"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74432"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74432\/revisions"}],"predecessor-version":[{"id":74434,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74432\/revisions\/74434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74433"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}