Polygon Labs Cuts 20% Workforce, Almost 100 Jobs (coindesk.com) 13
Polygon Labs, the Ethereum scaling platform, has cut around 100 jobs or 20% of its workforce, the firm said on Tuesday. The job cuts come at a time when the crypto industry is reeling from the impact of the FTX implosion and subsequent downturn. From a report: "Earlier this year, we consolidated multiple business units under Polygon Labs. As part of this process, we're sharing the difficult news that we've reduced our team by 20% impacting multiple teams and about 100 positions," the company said in a release. The cuts affect employees mostly in the U.S. Canada and India where most of Polygon's workforce is located, a company spokesperson told CoinDesk. "Momentarily, your access to Polygon Labs' systems, including Slack and email will end; the abrupt nature is a necessary security measure," read an email to a laid off employee viewed by CoinDesk.
Turnips, Turnips,Nobody wants to buy my turnips (Score:2)
Re: (Score:2)
Pretty weak FP. Vacuous, but with a funny Subject. But the steady flow (or flood?) of cryptocurrency stories is making me wonder about certain people's investments...
Re: (Score:3)
The expression is actually "tulip bulbs". Turnips are the investments in the Animal Crossing game. Although, it certainly seems like some of the crypto bros did acquire their investment knowledge from a video game with anthropomorphic animals.
"Turnips, turnips, watch 'em rise! Try to earn a nice surprise!"
Re: Turnips, Turnips,Nobody wants to buy my turnip (Score:2)
Ethereum scaling platform (Score:4, Interesting)
Scaling down to zero, I presume. Is there something useful they do?
Re: (Score:2)
Go out of business.
*shocked Pikachu* (Score:5, Insightful)
Fake jobs for fake workers for fake money. Do not feel sorry for any of these people. You work at a company that does anything with crypto, the company will implode.
fundamentals (Score:3)
> The job cuts come at a time when the crypto industry is reeling from the impact of the FTX implosion and subsequent downturn.
Is it a downturn or is crypto just running on fundamentals now? Lets remember that crypto has no intrinsic value and does nothing by itself.
If everyone in crypto decides to HODL right now, what is left of the market?
Re: (Score:2)
Lol! Crypto is literally a Ponzi scheme dressed-up to look like a "legitimate" investment. The entirety of its value depends on finding another sucker who hopefully wants to give you more money that you paid, and that's it. "Bitcoin is expected to release a divided of 25-cents per share for the quarter, which is up from 2 cents the previous quarter..." said no one ever, nor will they. There are no earnings, no profits and you can't use bitcoin to buy a car (without some complicated half-assed process to cas
From polygon... (Score:2)
Severance paid in Ethereum? (Score:2)
You mean even an "Ethereum scaling platform" didn't really believe Ethereum is a medium for settling payments? Shocking!