Updated
Updated · CNBC · Jun 16Robinhood Cuts 10% of Workforce, Taking $20 Million in Charges
3 articles · Updated · CNBC · Jun 16Summary
- Robinhood said it will lay off about 10% of its workforce and expects roughly $20 million in severance and benefits charges.
- Shares rose more than 2% in premarket trading after the announcement, suggesting investors welcomed the cost-cutting move.
- The charges are tied to severance and employee benefits, making the layoffs the clearest immediate financial impact disclosed by the company.
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