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100 Polygon Staffs Laid Off As MATIC Plunges 15%

Polygon announced on Tuesday that it would be cutting down 20% of its workforce as part of efforts towards unifying its diversified businesses under one unit. The news prompted a 6.5% drop in the trading price of its layer-two token, $MATIC, down to $1.29.

Following the persisting crypto market downturn that has seen top blockchain projects slash a significant portion of its workforce, Polygon assured its community that the decision is in no way fuelled by prevailing layoffs.

Polygon pledged to offer all affected staff three months’ severance compensation, irrespective of their qualifications. 

Polygon Polygon $0.57
+5.76%
Polygon
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