Online brokerage Robinhood Markets (HOOD) is cutting 10% of its workforce as it looks to eliminate management layers.
The company, whose trading platform is popular with individual retail investors, said it plans to axe 10% of its full-time workforce, or about 290 positions.
In a news release, management said their aim is to ensure that Robinhood operates more efficiently by flattening internal management layers.
The company expects to incur restructuring charges of about $20 million U.S. for employee severance packages, as well as $8 million U.S. in share-based compensation expenses.
The job cuts are expected to be concluded by the end of the current second quarter on June 30. The company had 2,900 full-time employees at the end of 2025.
In April, Robinhood missed its first-quarter financial results as cryptocurrency volatility impacted trading activity. Online brokerage Robinhood Markets (HOOD) is cutting 10% of its workforce as it looks to eliminate management layers.
The company, whose trading platform is popular with individual retail investors, said it plans to axe 10% of its full-time workforce, or about 290 positions.
In a news release, management said their aim is to ensure that Robinhood operates more efficiently by flattening internal management layers.
The company expects to incur restructuring charges of about $20 million U.S. for employee severance packages, as well as $8 million U.S. in share-based compensation expenses.
The job cuts are expected to be concluded by the end of the current second quarter on June 30. The company had 2,900 full-time employees at the end of 2025.
In April, Robinhood missed its first-quarter financial results as cryptocurrency volatility impacted trading activity.
Retail investors tend to move to the sidelines during periods of market volatility as their confidence wanes.
To reduce its reliance on trading activity, Robinhood has expanded into financial services and begun offering products such as retirement accounts and credit cards.
HOOD stock has declined 15% this year to trade at $98.12 U.S. per share.
Retail investors tend to move to the sidelines during periods of market volatility as their confidence wanes.
To reduce its reliance on trading activity, Robinhood has expanded into financial services and begun offering products such as retirement accounts and credit cards.
HOOD stock has declined 15% this year to trade at $98.12 U.S. per share.
