Polygon Labs, the company behind Polygon blockchain, announces a 19% workforce reduction of 60 employees, not financially motivated but for performance enhancement.

Polygon Labs, the company behind the Polygon blockchain, has announced a workforce reduction of 19%, resulting in the dismissal of 60 employees. The CEO, Marc Boiron, acknowledged that this decision was not financially motivated but rather aimed at enhancing the company's overall performance. All remaining employees will receive a 15% increase in total compensation, while the geo-pay models will be eliminated. Affected employees will receive two months' severance pay and healthcare benefits if applicable.

February 01, 2024
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