According to the CEO of OP Labs, OP Labs has reduced its team by 20 members, and affected employees will communicate with their respective managers within hours. Jing Wang explicitly stated that this layoff is unrelated to financial conditions—OP Labs is well-funded and has several years of operational reserves. The reduction is aimed at narrowing the business focus, improving decision-making efficiency, and reducing coordination costs. For severance, base compensation is set at three months, with an additional month added for each full year of service, up to a maximum of five months. All departing employees will receive six months of continued health insurance coverage and may retain their personal laptops. Jing Wang stated that he will personally assist departing employees in recommending their resumes to external companies.
OP Labs Announces 20 Layoffs; CEO Says It Is Unrelated to Financial Health
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Summary
On-chain news emerged as OP Labs announced 20 layoffs, with affected employees to be notified by managers within hours. CEO Jing Wang stated the move is unrelated to financial issues, noting the company has sufficient funds and reserves for years to come. The restructuring aims to streamline operations and accelerate decision-making. Severance includes three months’ salary, plus one additional month per year of service, up to a maximum of five months. Health insurance will be extended for six months, and employees may keep their laptops. Wang said he will personally assist laid-off staff by sharing their resumes. This crypto update underscores a significant shift at the company.
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