Matter Labs disclosed layoffs, stating that it is now fully focused on its institutional on-chain privacy infrastructure business.

CoinFeed reported on June 17th that Matter Labs CEO Alex Gluchowski announced on the X platform that the company has implemented layoffs. Alex stated that since 2024, when the company began building products for regulated financial institutions, it has now fully focused on its Prividium and institutional on-chain privacy infrastructure businesses. As the business progresses, the needs for skills and roles have changed, leading to the decision to lay off employees. Departing employees have received financial support, and the company is assisting them with their transition.