Scaling Solution Developer Polygon Labs Lays Off 19% of Workforce, CEO Says It’s Not for Financial Reasons

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The developer behind the Polygon (MATIC) ecosystem is shedding 19% of its workforce, although the corporate’s chief govt says the workers shakeup isn’t resulting from monetary causes.

Marc Boiron, CEO of Polygon Labs, says in a brand new announcement that the corporate is letting go of 60 individuals to create “an environment friendly, surgical staff with considerably much less paperwork.”

Boiron argues Polygon’s progress over the past bull market “diluted” the staff’s dedication to focus, diligence, effectivity and agility.

He says a smaller workforce will improve collaboration throughout the Ethereum (ETH) scaling resolution.

“This determination is just not a straightforward one. Proper-sizing for the sake of enhanced efficiency, reasonably than for monetary causes, could seem unconventional.

The truth is that attaining our mission typically calls for difficult choices, and whereas tough, the Founders and I agree that we should transfer ahead in a considerate approach that provides us the best likelihood to execute efficiently.”

The CEO says laid-off workers will obtain two months of severance and medical health insurance via the top of February, and workers who stay on the firm will obtain a pay bump.

MATIC is buying and selling at $0.808 at time of writing. The Fifteenth-ranked crypto asset by market cap is up greater than 5.5% prior to now 24 hours.

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