As a seasoned researcher who has followed the blockchain industry for years, I must say that layoffs within any tech company, including Matter Labs, are always a sobering reminder of the dynamic and competitive nature of this space. However, it’s crucial to understand that such decisions are often made with a long-term vision in mind, aiming to align the organization with evolving technology demands and support needs.
Matter Labs, the primary creator of the Ethereum layer-2 solution ZKSync, has declared that they’ll be letting go of 16% of their employees as part of a significant company reorganization.
The company plans to eliminate certain roles, aiming to adapt more effectively to the developing technology and assistance requirements of the ZKsync (ZKSY) development team.
In a statement regarding X, CEO Alex Gluchowski outlined that the restructuring is motivated by the necessity to adjust to emerging technological requirements and the evolving position of the company within the decentralized system. Essentially, Gluchowski said, we conducted a comprehensive organizational planning process and recognized that our current workforce structure doesn’t entirely align with what we require going forward.
The choice is made due to a substantial rise in interest for ZKsync’s tech, particularly with the latest debut of the Elastic Chain.
Regardless of the recent job cuts, Gluchowski confirmed that Matter Labs continues to maintain strong financial stability. They are prioritizing strategic recruitment and staying committed to their goal of promoting widespread crypto usage.
Exit packages and optimism
Affected workers will be offered a complete severance plan that encompasses:
This year, Matter Labs chose to abandon their trademark applications for “ZK” due to significant opposition from the zero-knowledge community. They argued that advancements in this area should remain open and accessible to all, rather than being controlled by a single organization. After receiving criticism from leading ZK researchers, Matter Labs concluded it was best to discontinue these attempts.
The business maintains a positive outlook regarding its future, pointing to robust technology demands and ongoing chances for expansion.
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2024-09-03 18:55