Robinhood Cuts 10% of Workforce, Affecting About 290 Employees

Robinhood is cutting 10% of its full-time workforce, affecting about 290 employees, as part of a broader restructuring to flatten organizational layers and improve execution, CEO Vlad Tenev announced. The reduction comes as the company experienced a weaker first quarter amid a 50% year-on-year decline in crypto trading volumes. Robinhood expects to incur about $28 million in restructuring-related charges in the second quarter of 2026, including $20 million in employee severance and benefits costs and $8 million in share-based compensation expenses. Tenev stated the company must operate as a "lean, hyper-focused team" to enhance decision-making speed and organizational efficiency.
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