Robinhood Cuts 300 Jobs, Closing Roles as It Trims 10% of Workforce
Updated
Updated · Bloomberg · Jun 16
Robinhood Cuts 300 Jobs, Closing Roles as It Trims 10% of Workforce
3 articles · Updated · Bloomberg · Jun 16
Summary
Robinhood said it will eliminate about 300 positions and close a small number of open roles across the company.
The Menlo Park, California-based brokerage said the cuts are meant to keep it lean and disciplined while it develops new products.
A regulatory filing showed the layoffs amount to roughly 10% of Robinhood’s workforce; the company previously said it expects about $20 million in severance and benefits charges.
Robinhood shares rose 1.7% in early New York trading, extending a modest gain after the announcement and underscoring investor focus on cost control across fintech.