MEGA is making significant changes to its workforce as it pivots towards artificial intelligence, marking a strategic shift from its blockchain roots. The company has announced layoffs of 20 employees to facilitate this transition, as revealed by cofounder Shuyao Kong. The source reports that this move is part of a broader strategy to adapt to the evolving market demands.
Layoffs at MEGA
On November 13, Shuyao Kong disclosed that the layoffs primarily affected staff from the
- blockchain
- wallet
- ecosystem teams
Investment in AI
To support this initiative, the company has allocated $30 million from its treasury, signaling a strong commitment to its new direction.
Strategic Shift
The move indicates MEGA's intention to develop products directly on its network, rather than merely supplying the underlying technology for other applications. This shift not only highlights the growing importance of AI in the tech landscape but also positions MEGA to compete more effectively in a rapidly evolving market.
In a notable leadership shift, Phase has appointed Yana Prikhodchenko as its new CEO, a move that contrasts with MEGA's recent workforce reductions as it pivots towards AI. For more details, see Phase's new CEO.
