Tools for Humanity, the parent company of Worldwide, is laying off employees.

CoinFeed reported on June 9th, citing Business Insider, that Tools for Humanity, the parent company of World (formerly Worldcoin), led by Sam Altman, is laying off employees. The company, valued at $2.5 billion, has investors including Andreessen Horowitz, Bain Capital, and Khosla Ventures, and employs over 500 people. An internal email stated that the layoffs are based on adjustments to company strategy and operational priorities, with further details to be announced at an all-hands meeting on Tuesday. The company has struggled to demonstrate how its iris scanning device, Orb, can generate stable revenue and gain regulatory approval, despite having millions of registered users.