Eigen Labs lays off 25%, restructures resources to focus on EigenCloud

Eigen Labs has announced a 25% reduction in its workforce, totaling 29 employees, across various positions. This move aims to restructure resources and focus on its newly launched developer platform, EigenCloud. The platform specializes in on-chain and off-chain verification and recently secured $70,000,000 in funding led by a16z last month, bringing its total funding to $220,000,000. Eigen Labs stated that the layoffs are not due to financial pressure, and affected employees will receive accelerated token vesting, three months' salary compensation, and career transition support. There are currently no further layoff plans. [Blockworks]