Matter Labs Implements Layoffs Amidst Changing Market Conditions
- Matter Labs, the company behind Ethereum scaling network ZKsync, has laid off 16% of its workforce.
- The decision was made due to changing market conditions and the need to align talent with business needs.
- The layoffs impacted 24 employees, but the company is still hiring for critical roles.
- Former employees will receive exit packages including three months of pay and career support.
- Matter Labs is reevaluating its strategies and may focus on more niche and case-specific uses.
- The company remains committed to its mission of accelerating the adoption of crypto technology.
- Summary :
Matter Labs, the company behind Ethereum scaling network ZKsync, has laid off 16% of its staff, affecting 24 employees. The decision was made due to changing market conditions and the need to align talent and roles with the company's evolving needs. The layoffs were not related to job performance and impacted various departments. Matter Labs remains committed to its mission and is still hiring for critical roles. Former employees will receive exit packages including three months of pay, four months of healthcare, and full vesting of company shares. Meanwhile, Ethereum co-founder Vitalik Buterin revealed that he receives an annual salary of around $140,000 from the Ethereum Foundation. Matter Labs' layoffs come as the company reevaluates its strategies and goals, potentially shifting towards more niche and case-specific uses in the competitive Ethereum scaling network landscape.
Sources :
- Decrypt
- TheBlock
- Blockworks
