zkSync Parent Firm Axes 16% Of Workforce, Will Other Ethereum Layer 2 Follow?

Matter Labs, the company behind Ethereum Layer-2 protocol zkSync, has announced its plans to restructure the organization. Unfortunately, this involves a couple of staff reduction that impacted about 16% of the Matter Labs’ team. According to the CEO of the firm Alex Gluchowski, this decision is the hardest the company has had to make in the six years of its operations.