OP Labs, the development company behind the Ethereum layer 2 network Optimism, has let go of 20 employees as part of an organizational restructuring aimed at narrowing its strategic priorities and streamlining decision-making processes.
“This is not about finances,” OP Labs CEO Jing Wang said in a note. “OP Labs is well capitalized with years of runway. This is about doing fewer things well, making decisions faster, and reducing coordination overhead.”
The company said that it plans to support departing employees with severance, healthcare continuation, and help them find new roles.
Affected staff members will receive extended compensation packages and continued benefits as part of their separation agreements.
Jing has also committed to leveraging personal and professional networks to connect displaced workers with hiring opportunities across the blockchain ecosystem.
Industry-wide pressures
OP Labs joins a growing list of crypto companies that have adjusted workforce levels as the industry adjusts to weaker markets and shifting strategies.
Gemini cut about 25% of its workforce and exited the UK, EU, and Australian markets while shutting down its NFT marketplace and narrowing its focus to the US, AI tools, and prediction markets.
OKX also reduced staff in its institutional division as part of a global restructuring, while Block said it would eliminate roughly 4,000 jobs, with CEO Jack Dorsey pointing to AI advancements and changing business priorities.
The crypto sector last experienced mass layoffs during the 2022 market collapse, when companies reduced headcounts by 10% to 30% following failures tied to Terraform Labs and FTX that wiped roughly $2 trillion from the market.
Roughly 24,000 jobs disappeared that year as exchanges and mining firms moved into crisis management mode, according to Bressler, Amery & Ross.
Recent layoffs from 2025 to 2026 are mostly linked to operational streamlining, mergers, and shifts toward AI-driven and blockchain-focused initiatives.
While 2022 cuts were dominated by exchanges such as Coinbase and Crypto.com, newer layoffs are spread across sectors like DeFi, real-world asset platforms, and infrastructure providers.
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