Polygon Labs is laying off employees for the second time this year, CEO Marc Boiron confirmed, as the blockchain development firm pushes to reach profitability by 2027. The company is also moving to finalize its acquisition of Coinme, a cryptocurrency ATM operator, though Boiron did not disclose how many jobs are being cut or when the Coinme deal is expected to close.
Why the layoffs are happening
Boiron said the reductions are part of a broader strategy to target profitability within the next two years. The company has not released financial statements, but the move signals a shift toward tighter cost control after a period of rapid expansion. Polygon Labs previously cut staff earlier in 2026; the latest round brings the total number of layoffs this year to an undisclosed figure.
The CEO did not specify which teams or regions are affected. Employees were informed through internal communications, and the company is offering severance packages, according to a person familiar with the matter who was not authorized to speak publicly.
The Coinme acquisition
Polygon Labs is in the final stages of acquiring Coinme, a Seattle-based company that operates a network of Bitcoin ATMs and provides crypto cash services. The deal was first announced in 2025 but has faced regulatory reviews. Boiron said the acquisition is now moving toward completion, though he did not provide a timeline.
Coinme’s integration would give Polygon Labs a physical retail presence, a rare move for a blockchain infrastructure firm. The company has not said whether Coinme’s employees will be affected by the layoffs.
What’s next for Polygon Labs
The layoffs come as Polygon Labs continues to develop its Ethereum scaling network, Polygon zkEVM, and its POL token ecosystem. The company has not announced any changes to its product roadmap. Boiron said the focus remains on building sustainable revenue streams and reducing operating costs.
No further layoff rounds are planned at this time, the CEO said, but the company will continue to evaluate its headcount against financial targets. The Coinme acquisition is expected to close pending final regulatory approvals.
