- Matter Labs has laid off 24 workers, greater than 16% of its workforce, amid adjustments out there.
- The corporate is shifting its focus from basic scaling to specialised functions.
- Regardless of the layoffs, Matter Labs continues to rent for key engineering and enterprise roles.
Matter Labs, the corporate behind the ZKsync Ethereum scaling community, has introduced the layoff of greater than 16% of its workforce, affecting 24 workers.
The announcement, made on September 3, 2024 by Matter Labs co-founder and CEO Alex Gluchowski, marks a big shift for the corporate because it navigates the more and more aggressive panorama of Ethereum layer-2 scaling options.
Matter Labs Restructures Amid Market Challenges
The layoffs come as Matter Labs reevaluates its technique within the face of fixing market situations and evolving enterprise wants. What follows is intensive organizational planning that exposed a mismatch between the corporate's present expertise and the wants of its future technique.
In response to Gluchowski, the downsizing resolution was the “hardest change” he needed to implement within the firm's six-year historical past.
Within the layoff announcement, Gluchowski defined that the affected workers had been notified of their termination and emphasised that the choice was not performance-related. He emphasised the necessity to align the corporate's sources with its new strategic objectives.
Regardless of the layoffs, Matter Labs is at present hiring for key roles in engineering, enterprise growth, and operations, underscoring its ongoing dedication to innovation and progress regardless of headcount reductions.
We’re shifting the main focus from common options to options for specialised areas
The layoffs are a part of Matter Labs' broader strategic focus.
In June 2024, the corporate launched Elastic Chain, a brand new answer geared toward enhancing interoperability for the rising variety of groups constructing their very own chains on ZKsync. The launch prompted Matter Labs to reassess its place in Ethereum's extremely aggressive Layer 2 ecosystem, which incorporates different main gamers comparable to Coinbase's Base, Polygon, Arbitrum, and Optimism.
Gluchowski hinted that Matter Labs could also be shifting away from its authentic focus as a common Ethereum scaler. As an alternative, the corporate is exploring extra area of interest functions of its know-how and particular functions, a transfer designed to higher serve the wants of its customers and stay aggressive in a crowded market.
As Matter Labs adjusts its course, the corporate's dedication to innovation stays sturdy. The layoffs, whereas tough, are a transfer to align manpower and sources with its evolving Ethereum scaling technique.
