Eigen Labs lays off 25% of workforce to focus on EigenCloud: report
Quick Take
- Eigen Labs has announced plans for a restructuring of the company, including workforce layoffs.
- Eigen Labs CEO Sreeram Kannan said the team plans to shift its focus to the newly launched EigenCloud platform.
Eigen Labs, the core development team behind Ethereum restaking project EigenLayer, has laid off roughly 25% of its workforce to shift focus to EigenCloud.
Blockworks reported Tuesday that Eigen Labs laid off 29 employees or about a quarter of the workforce. The project has confirmed the news with The Block.
"This morning, I shared plans for a restructuring of the company, streamlining our operations, and concentrating our efforts on building and scaling EigenCloud," Eigen Labs CEO Sreeram Kannan said Tuesday in a post on X. "Unfortunately, this means saying goodbye to brilliant colleagues who’ve contributed to the project with passion, integrity, and vision."
Eigen Labs' layoff comes after a16z crypto purchased an additional $70 million worth of EIGEN tokens to help support the launch of EigenCloud last month.
EigenCloud, which launched last month, integrates key services — including EigenDA for data, EigenVerify for dispute resolution, and EigenCompute for execution — into a unified, programmable platform. Essentially, the platform aims to allow developers to create trustless Web2 applications with blockchain-level verifiability, according to the team.
"As difficult as these changes are, they sharpen our focus as a company and ensure our teams are structured to sustainably pursue a single, ambitious goal: to build the world’s first verifiable cloud platform," said Kannan.
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