Polygon Labs Lays Off 60 Employees After Acquisition
- Polygon Labs cuts 60 jobs after two major acquisitions.
- CEO cites role overlap as reason for the layoffs.
- Maintain focus on payments-first strategy despite cuts.
Polygon Labs has laid off 60 employees following its $250 million acquisition of Coinme and Sequence, confirmed CEO Marc Boiron in a move to align its workforce.
The layoffs highlight the growing trend of restructuring in the crypto industry, as Polygon shifts its focus towards stablecoin payments amid substantial market changes.
Polygon Labs Layoffs Post-Acquisition
Polygon Labs announced the layoff of 60 employees following its $250 million acquisition of Coinme and Sequence. These moves are part of a restructuring process to align operations and eliminate redundant roles.
The responsible figure, CEO Marc Boiron, confirmed the decisions were due to role overlaps with the new acquisitions. Overall headcount remains stable around 200 despite the recent job cuts.
The layoffs have impacted several roles within the company, but according to Boiron, they were necessary to integrate new expertise in stablecoin payments. Former employees have expressed optimism OP -12.23% about the company’s future focus. Polygon’s acquisition strategy aims at establishing a payments-focused “Open Money Stack,” focusing on stablecoin transactions. Financial health remains robust with protocol fee revenue over $1.7 million since January 2026.
Market effects remain minimal, although Polygon’s native token, POL, has rallied recently. The acquisitions have brought valuable regulated payment capabilities to Polygon Labs, marking a shift towards on-chain payment efficiency.
Potential outcomes for Polygon Labs include enhanced capabilities in processing cross-chain stablecoin transactions. Historical trends of strategic job cuts suggest a pattern of operational efficiency, given prior layoffs for business adjustments.
Marc Boiron, CEO of Polygon Labs, stated, “the teams from Coinme and Sequence bring deep expertise across regulated payments, wallets, and interoperability, and therefore, the company had to make the ‘difficult decision to consolidate some overlapping roles’ at Polygon Labs. Our teammates who are departing are exceptional, and we’re deeply grateful for everything they’ve contributed to Polygon.”
