![\"Polygon](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDEvMDE5YmM2MWMtYjFiZC03MGIxLThjZjYtMTAwYzM3Zjg2ZjVkLmpwZw==.jpg\")
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The restructuring comes as the company integrates new payments assets and narrows its mandate, with several employees saying on X that they were affected by the layoffs.<\/p>\n
Polygon Labs has cut personnel as it pivots more aggressively to a payments-first strategy built around stablecoin rails and what it calls an \u201cOpen Money Stack,\u201d a new, vertically integrated set of services designed to move money onchain.<\/p>\n
The layoffs came just days after announcing a deal worth as much as $250 million to acquire US crypto ATM and payments company Coinme and wallet and developer platform Sequence.\u00a0<\/p>\n
Polygon did not publicly disclose how many roles were eliminated, but according to multiple sources<\/a> on social media<\/a> platforms like X, a reduction as large of 30% in staff has been linked to the post\u2011acquisition integration.\u00a0<\/p>\n Read more<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n