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Layer-2 protocol Polygon’s division Polygon Labs said it would be laying off about 60 employees—or 19% of its workforce.

The announcement came via a blog post by Marc Boiron, CEO of Polygon Labs. Boiron said that the company would provide about two months of severance and health benefits to the impacted employees.

“I recognise there is no right way to let someone abruptly know that they are impacted by this decision, and even though we have already notified these team members (and discontinued their access to our systems, for security reasons), we will speak to them personally as well,” he wrote.

(More details to follow.)