TechFlow news — On September 3, according to BlockWorks, Matter Labs, the development company behind ZKsync, announced it will cut 24 employees, or 16% of its workforce. This marks the company's first layoff since its founding six years ago. Nana Murugesan, President of Matter Labs, said in an interview: "Organizational complexity tends to accumulate over time. We need to ensure we have the right roles and people in place to effectively accomplish our mission." He emphasized that the decision aims to keep the company "lean" and aligns with the need for the company to enter the next phase of decentralization.
Both Murugesan and CEO Alex Gluchowski stated that the layoffs are not due to financial reasons. The company still plans for "strategic hiring." Murugesan added: "Our financial position remains strong, and we believe we can thrive even through multi-year bear markets. Our technical demand is also steadily growing, with around a dozen chains launching on Elastic Chain this year."
