Matter Labs, developer of the Ethereum (ETH) scalable ZKsync network, announced Tuesday that it has laid off more than 16% of its workforce. Alex Gluchowski, the company’s CEO and founder, called the move the most difficult in Meter’s six-year history. He cited significant changes in the market environment and the company’s business requirements as the reason for the decision. The layoffs affected 24 employees, bringing the total number of employees to 126. Meterlabs continues to hire for engineering, business development and operations roles. Former employees will receive a severance package that includes three months’ pay, four months of health insurance and employment assistance.
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