Eigen Labs has laid off 29 employees as part of a restructuring effort to focus on the EigenCloud development. This represents 25% of their workforce and indicates an organization-wide change rather than cuts in a specific department.
CEO Sreeram Kannan expressed that the restructuring was necessary for future growth and not due to financial troubles. He emphasized the importance of aligning resources with product needs, assuring there would be no further layoffs planned.
The layoffs come alongside a recent investment of 70 million USD from a16z, bolstering Eigen Labs’ growth strategy. The company aims to enhance its core services with EigenCloud, supporting decentralized computation.
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