Eigen Labs Cuts 25% of Workforce to Focus on EigenCloud Development
Business/Tech

Eigen Labs Cuts 25% of Workforce to Focus on EigenCloud Development

Eigen Labs has laid off 29 employees, amounting to 25% of its team, as it sharpens its focus on the EigenCloud project, which aims to provide a verifiable alternative to traditional cloud services.

Eigen Labs has announced a significant restructuring, resulting in the loss of 29 jobs, constituting 25% of its workforce. This move is part of the company’s strategic transition to prioritize the development of EigenCloud, which Kannan describes as a ‘verifiable’ alternative to traditional opaque cloud services.

Key Points:

  • Eigen Labs is reallocating resources to enhance EigenCloud development without being impacted by financial constraints.
  • Employees affected by layoffs will be offered support, including severance packages to aid their transition.
  • The company continues to operate its EigenLayer and EigenDA protocols as part of this cloud initiative.

“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,” Kannan stated in a post on X.

Sreeram Kannan’s statement underscores the company’s commitment to its mission even amid workforce changes.

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