Matter Labs, the main developer behind the Ethereum layer-2 protocol ZKsync, laid off 16% of its employees as part of a restructuring.
The company made the move to adapt to “the different type of technology and support” that developers building on ZKsync now require, according to a post on X by CEO Alex Gluchowski on Tuesday.
01:11
Breaking Down Bitcoin’s Selling Pressure
02:13
Crypto and the Election: All You Need to Know Ahead of November
05:20
From Millions to Billions: The Crypto Wealth Explosion
01:11
Tokenized Treasury Funds Pass $2B Market Cap on BlackRock’s Explosive Growth
“We went through a large org planning exercise, and it became clear that the talent and roles we have today do not perfectly match our needs,” Gluchowski wrote.
Matter Labs has as many as 200 employees according to its LinkedIn profile, so the layoffs may amount to more than 30 people.
Edited by Sheldon Reback.
