Eigen Labs has just announced a corporate restructuring aimed at focusing on developing the EigenCloud authentication cloud platform, leading to partial layoffs.
The company is committed to supporting laid-off employees through severance policies, rapid stock vesting, health insurance, and career counseling to ensure a smooth transition.
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Eigen Labs restructures to focus on developing EigenCloud – the world's first authentication cloud platform.
Approximately 25% of the workforce was laid off with comprehensive support from the company.
EigenCloud, which includes EigenLayer (the foundational layer) and EigenDA (the data layer), will continue to receive significant investment.
What changes has Eigen Labs made in its company structure?
CEO Sreeram Kannan confirms that the company's restructuring aims to optimize operational efficiency and focus on developing EigenCloud, resulting in the layoff of 29 employees, representing about 25% of the total workforce.
This decision was announced in July 2024 and marks a strategic shift for Eigen Labs in building the world's first authentication cloud.
"After the restructuring, Eigen Labs' team will focus more on developing EigenCloud, with EigenLayer as the foundation and EigenDA as the crucial data layer. We are also calling on partners in the cryptocurrency ecosystem to support laid-off employees in seeking new opportunities."
Sreeram Kannan, CEO of Eigen Labs, July 2024
Why is Eigen Labs focusing on developing EigenCloud?
EigenCloud is oriented as the world's first authentication cloud platform, meeting the demand for security and transparency in data storage and processing on the Blockchain.
According to CEO Sreeram Kannan, focusing resources on EigenCloud enables the company to maximize technological potential and develop products based on EigenLayer and EigenDA – the two core components of the platform.
What role do EigenLayer and EigenDA play in the system?
EigenLayer lays the foundation for the cloud platform, ensuring authenticity and secure data distribution.
EigenDA is the data layer that supports efficient management and storage of information on the Blockchain, helping to enhance the scalability and security of the cloud.
How are affected employees supported?
Eigen Labs has implemented comprehensive support policies for laid-off employees, including severance pay, expedited stock vesting, extended health insurance, and intensive career counseling services.
This demonstrates the company's commitment to social responsibility and concern for employee welfare even during the restructuring phase.
"We believe that supporting employees during times of change is not only a responsibility but also a foundation for the sustainable development of the community in the cryptocurrency ecosystem."
Sreeram Kannan, CEO of Eigen Labs, July 2024
How does Eigen Labs call for support from partners?
To ensure affected employees have the opportunity to access new jobs, Eigen Labs encourages partners in the cryptocurrency ecosystem to collaborate in supporting job searches and career development for them.
This move enhances the company's reputation and creates a professional, sustainable environment in the new technology community.
How many employees did Eigen Labs lay off in this restructuring?
According to reports, the company laid off a total of 29 people, corresponding to 25% of the workforce, to streamline operations and focus more on foundational technology.
Comparison table of employees before and after Eigen Labs' restructuring
Pre-restructuring Post-restructuring Total employees 116 people 87 people Laid-off employees 0 29 people (25%) Focus on developing EigenCloud Building multitasking Prioritizing core focus areas
Frequently Asked Questions
What is the goal of restructuring at Eigen Labs? To enhance operational efficiency and focus on developing EigenCloud – the world's first authentication cloud platform. How many employees did Eigen Labs lay off? 29 people, accounting for 25% of the total workforce, according to the announcement in July 2024. How are laid-off employees supported? Support includes severance pay, rapid stock vesting, extended health insurance, and career counseling. What components does EigenCloud consist of? It includes EigenLayer as the foundation and EigenDA for data processing, ensuring security and scalability. Does the company call for external support? Yes, the company calls on partners in the cryptocurrency ecosystem to support laid-off employees in seeking new opportunities.
Source: https://tintucbitcoin.com/eigen-labs-tai-cau-truc-uu-tien-eigencloud/
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