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Eigen Labs cuts 25% of its workforce, shifting focus to the EigenCloud product.
Gate News bot message, Eigen Labs has laid off 29 people (25% of its total workforce) to restructure the resources of its EigenCloud platform. Although it received a $70 million investment from a16z, the company stated that this decision is not due to financial difficulties.
CEO Sreeram Kannan stated that this streamlining will help Eigen Labs focus long-term on the demand for on-chain/off-chain computation verification in the AI era. Affected employees will receive financial support, early token vesting, and career counseling.