ZKsync Maker Matter Labs Reveals Layoffs Amid Crowded Ethereum Scaling Market
A total of 24 employees were affected by the layoffs, which come as the company attempts to navigate the growing field of Ethereum layer-2s.

Matter Labs, the company behind Ethereum scaling network ZKsync, announced on Tuesday that it laid off over 16% of its staff, in the latest contraction to shake up the crypto industry. 

Alex Gluchowski, the company’s co-founder and CEO, announced the move publicly, calling it “the hardest change” he’s had to implement in Matter's six-year history.

“Our market environment and business needs have changed significantly over the course of this year,” Gluchowski tweeted, explaining the decision. “We went through a large org planning exercise, and it became clear that the talent and roles we have today do not perfectly match our needs.”

Affected employees were already notified of their termination, which in no cases had to do with job performance, per the CEO.