Matter Labs to cut 16% of workforce amid organizational restructuring

Matter Labs, the principle developer behind the Ethereum layer-2 resolution ZKsync, has introduced that it’s going to cut back its workforce by 16% on account of a significant organizational restructuring.

The corporate will reduce these positions to raised go well with the evolving know-how and help wants of ZKsync (ZKSY) builders.

In a single statement At “We went via main organizational planning and it turned clear that the expertise and roles we’ve as we speak aren’t an ideal match for our wants,” mentioned Gluchowski.

The choice follows a big improve in demand for ZKsync’s know-how, together with the latest launch of the Elastic Chain.

Regardless of the layoffs, Gluchowski assured that Matter Labs stays financially strong, with a give attention to strategic hiring and sustaining its mission to advance cryptocurrency adoption.

Exit packages and optimism

Affected staff will obtain a complete exit bundle, together with three months of primary wage, continued well being care advantages and profession help. As well as, the corporate will help with immigration points and supply affected employees with profession placement help for 4 months.

Earlier this yr, Matter Labs withdrew its trademark purposes for the time period “ZK” after sturdy opposition from the zero-knowledge group, which argued that such improvements ought to stay a public good. The corporate determined to halt its efforts after distinguished ZK researchers criticized the transfer and emphasised that zero-knowledge proofs shouldn’t be monopolized by any entity.

The corporate stays optimistic about its future, citing sturdy know-how demand and continued progress alternatives.