Matter Labs Announces Layoffs, Shifts Focus to Enterprise-Level Privacy Chain Infrastructure Prividi

On June 17, Alex Gluchowski, co-founder and CEO of Matter Labs, announced on the X platform that the company would be reducing its team size and explained the reasons for the layoffs. Gluchowski stated that starting in 2024, Matter Labs will focus on product development for regulated financial institutions, leading to the incubation of the enterprise-level privacy infrastructure project Prividium. The entire company has now redirected its resources towards this goal, which is to provide privacy-centric on-chain infrastructure for businesses and regulated financial institutions. As this business evolves, customer demands have become increasingly clear, and the required team skill set has significantly changed from previous phases. The layoffs are a result of this strategic shift. Gluchowski emphasized that the departing employees are all top engineers, designers, and operational talents, and the adjustments are not related to individual capabilities or job performance. The company has provided financial compensation to all departing employees and is assisting with their career transitions, while also opening a channel for external companies to access the list of departing talent.