Overview
- OP Labs, the main developer behind Ethereum’s Optimism network, laid off 20 employees as part of an internal restructuring to sharpen priorities and speed decisions.
- CEO Jing Wang said the decision is not about finances, noting the company is well capitalized with years of runway.
- Departing employees will receive severance, continued healthcare benefits, and assistance with job placement.
- The firm’s shift tracks a broader industry turn toward leaner operations as competition among layer-2 networks like Arbitrum and Coinbase’s Base intensifies.
- OP, the token associated with the Optimism ecosystem, was reported down about 3% over the past 24 hours following the announcement.