Polygon Labs Cuts 20% Workforce

Polygon Labs announced it has cut 20% of the workforce in its consolidation of multiple business units, with around 100 people affected.

"This was a painfully hard decision, but a necessary step in our journey." Polygon Labs said.

According to TokenInsight data, the price of $MATIC dropped by 5.72% over the last 24 hours, trading at $1.4021 now.