Polygon Labs Cuts 20% Workforce, Almost 100 Jobs

Polygon Labs, the Ethereum scaling platform, has cut around 100 jobs or 20% of its workforce, the firm said on Tuesday. The job cuts come at a time when the crypto industry is reeling from the impact of the FTX implosion and subsequent downturn. From a report: "Earlier this year, we consolidated multiple business units under Polygon Labs. As part of this process, we're sharing the difficult news that we've reduced our team by 20% impacting multiple teams and about 100 positions," the company sai