{"id":301434,"date":"2023-02-21T14:18:56","date_gmt":"2023-02-21T14:18:56","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=301434"},"modified":"2023-07-29T16:14:49","modified_gmt":"2023-07-29T15:14:49","slug":"polygon-sacks-20-of-staff-says-it-remains-financially-healthy","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/","title":{"rendered":"Polygon sacks 20% of staff, says it remains financially healthy"},"content":{"rendered":"

Ethereum (ETH<\/a>) layer 2 protocol Polygon (MATIC<\/a>) revealed it has laid off about 20% of its staff, according to a Feb. 21 statement<\/a>.<\/p>\n

Polygon added that the job cut affected about 100 positions in the firm. The affected employees would receive three months of severance pay regardless of their positions.<\/p>\n

“Earlier this year, we consolidated multiple business units under\u00a0Polygon Labs. As part of this process,\u00a0 we\u2019re sharing the difficult news that we\u2019ve reduced our team by 20% impacting multiple teams and about 100 positions.”<\/p><\/blockquote>\n

Polygon said it remains financially healthy, stating that it has a balance of over $250 million and holds 1.9 billion MATIC tokens \u2014 worth roughly $2.7 billion according to current value.<\/p>\n

Over the past year, several crypto firms have been forced to lay off<\/a> part of their workforce due to the challenging macroeconomic conditions and the dramatic deterioration of the crypto market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) layer 2 protocol Polygon (MATIC) revealed it has laid off about 20% of its staff, according to a Feb. 21 statement. Polygon added that the job cut affected about 100 positions in the firm. The affected employees would receive three months of severance pay regardless of their positions. “Earlier this year, we consolidated […]<\/p>\n","protected":false},"author":720,"featured_media":301456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77873],"tags":[76797,76918],"post_folder":[],"acf":[],"yoast_head":"\nPolygon sacks 20% of staff, says it remains financially healthy<\/title>\n<meta name=\"description\" content=\"Polygon said its treasury has a balance of over $250 million and holds 1.9 billion MATIC tokens, worth over $2 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polygon sacks 20% of staff, says it remains financially healthy\" \/>\n<meta property=\"og:description\" content=\"Polygon said its treasury has a balance of over $250 million and holds 1.9 billion MATIC tokens, worth over $2 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-21T14:18:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-29T15:14:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/polygon-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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