⚡ Matter Labs Announces Workforce Cuts
posted 3 Sept 2024
Matter Labs, the developer behind ZKsync, laid off 16% of its employees. Those affected will receive severance equal to three months' salary, four months of health insurance, job placement support, the option to keep company equipment, and even assistance with immigration.
CEO Alex Gluchowski attributed the layoffs to a strategic realignment and a reassessment of the team’s objectives, leading to the need for changes in team composition. He stressed that the layoffs were not due to employee performance and took full responsibility for the decision.
To avoid painful corrections like this in the future, I will ensure that all new functions and roles we hire for are aligned with our long-term strategy while maintaining the highest performance standards,Gluchowski added.
He further assured that the company and its technologies remain stable and in demand. For example, the number of developers using ZKsync and Elastic Chain is still increasing, and Matter Labs’ financial resources are sufficient to sustain growth even in bear markets or during extended downturns.
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