Eclipse Labs, a Layer 2 blockchain developer, has announced new leadership and significant workforce reductions.
Leadership Change
Eclipse Labs has appointed Sydney Huang, known online as '0xSydney', as the new CEO following the voluntary departure of the previous director, Vijay Chetty, also known as 'Litquidity'. The leadership transition was first disclosed in an X post on August 25.
Workforce Reductions
Alongside the leadership change, Eclipse Labs announced a 65% workforce reduction that will impact approximately 40 employees across engineering, product, and operations. This step is aimed at aligning resources with the company's updated strategy.
Future of Eclipse Labs
Eclipse Labs has stated that its priority moving forward is to develop consumer applications on top of its L2 infrastructure. The firm emphasized that its mission to build scalable blockchain infrastructure remains intact but that the next stage will focus on applications that 'serve end users directly.'
Eclipse Labs will maintain its rollup infrastructure while shifting resources towards developing in-house applications.
