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PIP Labs, the company behind Story Protocol, recently laid off 5 full-time employees and 3 contractors, representing approximately 10% of the total workforce across Story-related entities. The company stated that the layoffs aim to make minor personnel adjustments and shift focus toward AI-related IP infrastructure, with emphasis on AI trading data and AI agent use cases. The network launched in 2025 and introduced its native token IP, but the token has declined approximately 86% from its historical high. (Decrypt)