Polygon Labs said to have laid off 60 staff following new $250 million acquisition

Polygon Labs, an Ethereum scaling firm, is reported to have laid off 60 staff following a $250 million acquisition, although the company refuted claims of a 30% workforce reduction. They argue that the layoffs were necessary to address role overlaps due to the acquisition, maintaining that their overall staff numbers remain unchanged. This action could reflect a broader trend in the industry where firms are strategically restructuring to enhance efficiency amidst rising competition in blockchain technology. The restructuring might have significant implications, yet the company's response signals an intention to maintain stability and adapt to an evolving market.