🤑Disbandment is N+2, so comfortable!
Polygon Labs has laid off 60 employees, accounting for 19%
On February 1, Polygon Labs CEO Marc Boiron posted on the community that 60 people, accounting for 19% of the team members, had been laid off. Polygon Labs will provide 2 months of severance and health benefits to terminated employees (ends at the end of February). At the same time, Polygon Labs will increase total employee compensation by at least 15%, effective January 1, 2024, and new employees will also receive a 5% salary increase.
Polygon Ventures, which became independent from Polygon Labs in late 2023, has been rebranded as P2 Ventures. The Polygon ID team will also operate independently from Polygon Labs in the coming months.