Eigen Labs announces reorganization and layoffs to focus on EigenCloud development

PANews reported on July 9 that Sreeram Kannan, CEO of Eigen Labs, posted on the X platform that he announced a company restructuring plan today to streamline operations and focus on building and expanding EigenCloud. The adjustment led to the resignation of some employees, and the company said it would provide support measures such as severance pay, accelerated equity vesting, extended medical insurance and career recommendations. Eigen Labs said that after the reorganization, 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. In addition, Kannan added: "Eigencloud includes EigenLayer as the foundation and EigenDA as the data layer. Therefore, we will continue to work on this aspect."

In addition, according to Blockworks , Eigen Labs laid off about 25% of its employees, laying off 29 employees.