OP Labs said it laid off 20 employees as part of an internal restructuring intended to narrow the company’s strategic focus. CEO Jing Wang said the move was not driven by financial pressure, stating in a message shared publicly that OP Labs is well capitalized and has years of runway. She said the goal is to streamline decision-making and concentrate on doing fewer things exceptionally well. OP Labs, the main developer firm behind the Optimism ecosystem, said affected staff were informed internally before the layoffs were announced publicly, and it encouraged other crypto teams to consider hiring departing employees. The report also noted that the OP token was down about 3% over the past 24 hours.