According to Bloomberg, Parity Technologies, the blockchain infrastructure company behind the Polkadot platform, will cut 30% of its workforce, affecting around 100 employees, as part of its focus on "transitioning" to its technical plans. Parity CEO Björn Wagner said that the decision, as Parity shifts its focus to supporting Polkadot technology, will impact teams including go-to-market, with approximately 30% of the workforce receiving contract termination notices over the coming months in a transition period, out of a total of less than 400 employees. Earlier this month, the company hinted at the layoffs on social media platform X. According to CoinGecko, the market value of DOT tokens is $5.3 billion, down about 40% from the year's high in February.