$MEGA, the organization behind the Ethereum layer-2 network MegaETH, has cut its workforce by 20% after months of restructuring as it expands into artificial intelligence products.
On Friday, MegaETH co-founder Shuyao Kong said the organization had reorganized its teams, resulting in the departure of employees who worked on its blockchain, wallet, ecosystem support and communications. Kong did not disclose how many employees were affected or when the layoffs took place. She said $MEGA’s founders, early employees and core engineering team remain committed to the organization.
“We’ve brought together new capabilities and reorganized our teams, a process that has resulted in a 20% reduction in our staff,” Kong said. “These are people who helped build $MEGA from its earliest days.”
The workforce reduction comes as $MEGA shifts its focus toward developing products on the MegaETH network, including artificial intelligence services. The organization has committed $30 million to the initiative, although Kong did not directly link the layoffs to its new strategy.
In a whitepaper, MegaETH co-founders Yilong Li and Lei Yang outlined a proposed inference market intended to give users access to competing AI service providers. Their approach aims to address concerns about whether providers use the models they advertise and how they handle customer data.
Kong said $MEGA plans to launch a public inference market in December.
