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Robin Hood to cut 10 percent staff
Robinhood announced that it will cut approximately 290 jobs, or 10% of its workforce, as part of a restructuring plan to enhance operational efficiency. The company expects to incur charges of around $28 million related to this move, which will be recorded in the second quarter. The plan aims to close a limited number of vacant positions while continuing strategic hiring and investments in talent. The company, which had about 2,900 employees at the end of 2023, confirmed that its current performance remains strong, and the restructuring seeks to simplify the organizational structure to enable greater agility in decision-making.
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