Eigen Labs has initiated a staff cut in response to strategic changes and a focus on the new EigenCloud initiative.
Staff Layoffs at Eigen Labs
Eigen Labs has terminated 29 employees, equating to 25% of its workforce. This decision is part of a strategic restructuring aimed at developing the EigenCloud platform.
Restructuring for Future Development
This move highlights the importance of focusing efforts on creating a decentralized cloud platform. CEO Sreeram Kannan emphasized:
> "This morning, I shared plans for a restructuring of the company, streamlining our operations, and concentrating our efforts on building and scaling EigenCloud. Unfortunately, this means saying goodbye to brilliant colleagues who’ve contributed to the project with passion, integrity, and vision."
Support for Laid-off Employees
The company is providing financial support for those laid off, including accelerated token vesting, salary, and healthcare. Eigen Labs has also pledged to connect former employees with new opportunities in the crypto sector.
Eigen Labs' strategy raises expectations for technological advancements and operational efficiencies supporting EigenCloud's development. Despite workforce reductions, the company remains poised for growth, backed by solid financial support and a defined project focus.
