On July 9, PANews reported that Sreeram Kannan, CEO of Eigen Labs, announced on the X platform that the company has unveiled a restructuring plan to streamline operations and focus on building and expanding EigenCloud. This adjustment has led to some employee departures, and the company stated it would provide severance compensation, accelerate equity vesting, extend health insurance, and offer career recommendations as support measures. Eigen Labs stated that after the restructuring, the team will be more focused on building the 'world's first verifiable cloud platform' and called on crypto ecosystem partners to assist departing employees in finding new opportunities. Additionally, Kannan added: 'Eigencloud includes EigenLayer as the foundation and EigenDA as the data layer. Therefore, we will continue to commit to work in this area.'
Furthermore, according to Blockworks, Eigen Labs has laid off approximately 25% of its workforce, resulting in 29 employees being let go.