BlockBeats News, June 17th, Matter Labs co-founder and CEO Alex Gluchowski today posted on X platform, announcing a reduction in the company's team size and providing an explanation for the layoffs.

Gluchowski stated that since 2024, Matter Labs has been focusing on product development for regulated financial institutions, incubating the enterprise-grade privacy infrastructure project Prividium. Currently, the entire company has fully concentrated its resources on this direction, with the core goal of providing privacy-centric on-chain infrastructure for enterprises and regulated financial institutions. As the business progresses further, customer demands have become clearer, and the required team skill set is significantly different from the previous stage. This round of layoffs is based on the need for this strategic transformation.

Gluchowski emphasized that the departing employees are all top engineers, designers, and operational talents of the company. This adjustment is not related to individual capabilities or job performance. The company has provided financial compensation to all departing employees and assistance in completing their career transitions, while also opening an application channel for external companies to contact the departing talent.