(Reuters) – Cryptocurrency firm Polygon Labs plans to cut 60 jobs globally, or about 19% of its workforce, the corporate mentioned in a weblog put up on Thursday, marking a second round of layoffs amid a nascent restoration in digital property.
The corporate, which helps make digital coin Ethereum extra accessible, let go 100 staff in February final 12 months, following an industry-wide rout that wiped away trillions of {dollars}.
Affected staff will obtain two months of severance and well being advantages by way of the tip of February in areas the place the corporate gives them, the put up mentioned.
The full compensation of remaining staff may even be elevated by at the least 15% whereas new recruits will obtain a 5% rise, it added.
(Reporting by Mehnaz Yasmin in Bengaluru; Modifying by Shounak Dasgupta and Sriraj Kalluvila)
