Polygon Labs CEO Marc Boiron has announced that the company will be cutting 60 employees “to enhance operational efficiency.”
In a blog post on February 1st, Boiron stated that the staff reductions, which he described as “difficult but necessary,” affected approximately 19% of Polygon’s workforce. According to the CEO, these layoffs are not driven by financial reasons but are an effort to create a “more efficient, less bureaucratic team.”
Boiron stated, “This decision was not an easy one. The layoffs are aimed at improving operational efficiency, rather than for financial reasons, which may seem unusual.”
In another post on February 1st, Sandeep Nailwal, co-founder of Polygon, mentioned that the layoffs are “a necessary step to make Polygon Labs stronger.” Polygon had previously cut 20% of its workforce, around 100 people, in February 2023 as part of an internal restructuring effort.
Boiron did not disclose which employees would be laid off at the time of the announcement but mentioned that he would share the information as soon as the employee list is finalized.