Matter Labs, a German company known for developing the ZKsync protocol on the Ethereum Layer 2, has recently reduced their workforce by approximately 16%.
In a statement, co-founder and CEO Alex Gluchowski acknowledged the company’s initial focus on maintaining a small and efficient team to drive adoption of cryptocurrencies for personal control.
However, market changes and shifting business needs have led to a shift in priorities, with an increase in demand for ZK Chains.
Matter Labs, founded in 2018, has received funding of $458 million over four rounds according to Tracxn.
