TechFlow news — Polygon Labs, the development company behind Polygon, announced in a blog post that it has cut 60 positions, representing approximately 19% of its workforce. For employees unaffected by the layoffs, total compensation will increase by at least 15%, and the company will eliminate its geographic pay model.
The press release stated the layoffs were made “for performance reasons, not financial ones.”
In addition, the company said the team behind Polygon ID will be spun out from the organization in the coming months.
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