Robinhood to Cut 10% of Workforce in Restructuring Move
Robinhood announced its intention to layoff roughly 10% of workers, about 290 employees. According to the business, this restructuring will contribute to a more efficient organisation structure by reassigning reports deeper in management layers and enabling decisions faster. About $28 million in restructuring costs will be incurred, but Robinhood said the decision is based on business strength, with trading volumes hitting record levels in June.