Ethereum Layer-2 network Optimism has reportedly laid off more than 20% of its workforce, according to internal sources and employee posts circulating online.
The reported cuts began circulating internally on Tuesday and are believed to affect staff across several teams working on protocol development and ecosystem initiatives.
Optimism has not yet issued an official statement confirming the layoffs or detailing the exact number of employees affected.
The workforce reductions come during a difficult period for the project’s token, with OP trading around $0.12 after falling more than 55% year-to-date.
Optimism is one of the largest Layer-2 networks built to scale Ethereum using optimistic rollup technology designed to reduce costs and improve transaction throughput.
The project also develops the OP Stack infrastructure that powers several chains within the emerging “Superchain” ecosystem, including the Base network.
It remains unclear whether the layoffs are linked to restructuring efforts, market conditions or strategic shifts tied to the Superchain roadmap.
At the time of reporting, Ethereum price was $2,024.50.