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Robinhood To Fire 9% Of Full-Time Employees

Robinhood To Fire 9% Of Full-Time Employees

Robinhood announced on Tuesday that it will be cutting around 9% of its full-time workforce, according to a statement from CEO Vlad Tenev.

“After carefully considering all these factors, we determined that making these reductions to Robinhood’s staff is the right decision to improve efficiency, increase our velocity, and ensure that we are responsive to the changing needs of our customers,” said Tenev (via Bloomberg).

The company says it will continue to scrutinize headcount growth targets.

News of the cuts come just one quarter after we noted the company was under intense downside pressure, following dismal guidance the previous quarter.

Developing…

Tyler Durden
Tue, 04/26/2022 – 16:35

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