Eigen Labs Announces 25% Layoffs and Restructures Resources to Focus on EigenCloud Platform

On July 9 (UTC+8), Eigen Labs announced a 25% reduction in its workforce, totaling 29 employees across various positions, with the aim of restructuring resources and focusing on its newly launched developer platform, EigenCloud. This platform specializes in on-chain and off-chain verification and secured $70.00 million in funding last month, led by a16z, bringing its total funding to $220.0 million. Eigen Labs stated that the layoffs were 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. (Source: Mlion.ai) [MetaEra]