Polygon Labs Streamlines Operations with Staff Reduction

In a strategic move, Polygon Labs, the driving force behind Ethereum scaling network Polygon, has implemented a workforce reduction, affecting 60 team members. This decision, presented as an essential step towards increased efficiency, follows a similar but more extensive layoff less than a year ago. The company emphasized the need for a streamlined approach to eliminate bureaucracy and enhance collaboration in tackling demanding projects, portraying the action as a proactive measure rather than a response to market conditions. The remaining 300 employees will benefit from salary and token grant increases, reflecting the company's commitment to maintaining a competitive edge in the decentralized finance (DeFi) landscape.