OP Labs, developer of Ethereum Layer 2 network Optimism, announced layoffs of 20 employees, representing approximately 20% of its team size, according to Chief Executive Officer Jing Wang. Wang stated that the move was made for strategic reasons, aimed at narrowing the business scope to improve efficiency, and was not due to financial difficulties. He emphasized that the company "has several years of development space ahead." Following the announcement, the OP token declined 2.4% over the past 24 hours.

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