Matter Labs Announces Workforce Reduction
On September 3, 2024, Matter Labs declared a significant workforce reduction of 16% as part of a restructuring initiative. This decision was communicated through a social media post from the CEO, Alex Gluchowski, indicating that the move follows an internal assessment that revealed a disparity between the current job roles and the company’s renewed focus on supporting ZKsync Era and ZK Chains.
Adapting to Evolving Market Needs
In his message, Gluchowski highlighted the drastic changes in the market and business landscape over the past year. “We see that many teams building on ZKsync Era now require a different type of technology and support than they had previously,” he stated. This acknowledgment prompted an evaluation of Matter Labs’ organizational structure, particularly after the recent launches of the Elastic Chain and ZK Nation.
Details of the Layoffs and Support for Affected Employees
Gluchowski reported that the layoffs are not reflective of employee performance but rather stem from a need to realign with shifting business priorities. The company has devised a comprehensive exit package for the 16% of team members affected, which includes three months of base salary, four months of healthcare coverage, personalized career services, and immigration assistance for those in need.
“I want to end by expressing my deep gratitude to every team member, both those moving on and continuing with us, for your invaluable contributions to our journey,” Gluchowski added. “Your efforts have shaped Matter Labs into what it is today: a transformative force advancing freedom for everyone in the world.”
RDX Works Implements Workforce Adjustment
In related news, RDX Works, the organization behind the Radix DeFi platform, has also announced a reduction of its workforce by 15%. CEO Piers Ridyard shared that these layoffs are part of a broader restructuring plan aimed at optimizing operations and adapting to changing market conditions.
Future Projects Remain on Track
Despite the workforce changes, Ridyard assured stakeholders that significant projects such as Flash Liquidity, the Cassandra test network, and innovations in multifactor account persona control and recovery (MFA) will proceed as scheduled. This commitment underscores the organization’s dedication to its long-term vision amidst operational shifts.