Ethereum liquid staking protocol Lido will reduce its workforce by 15% to strengthen its long-term viability, its co-founder Vasiliy Shapovalov announced on Friday.
The layoffs affect employees at Lido Labs, Lido Ecosystem, and Lido Alliance. Shapovalov emphasized that the cuts are due to economic reasons, not performance-related, and called them a "difficult decision, but one rooted in long-term resilience."
He wrote on X:
"While it may seem counterintuitive amid a market upswing, the move reflects a deliberate commitment to sustainable growth, operational focus, and alignment with the priorities of LDO tokenholders."
Launched in 2020, Lido allows users to stake ETH while maintaining liquidity.