Robinhood (HOOD) is cutting about 290 jobs, about 10% of its full-time workforce, as CEO Vlad Tenev overhauls the organization’s structure and pushes for top talent.
The trading center framed the reduction as a sharp move away from strength, citing June trading volume in the prices, options, and forecast markets.
Why Robinhood Is Cutting Staff Now
Robinhood had about 2,900 full-time employees as of Dec. 31, so the cuts affect about 290 positions. The company he hopes about $20 million wages separated from profits.
It also expects about $8 million in dividend payouts. The entire case will reach the second stage.
Tenev said the company had taken a proactive approach and was not under financial pressure.
“Robinhood’s business has never been stronger. But in order to achieve our mission, we cannot fail to work as a highly focused team. We must be a focused, focused team where each person has the power to create great things,” CEO. he said.
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The first part of Robinhood the results show that all the money increased 15% from the previous year to $1.07 billion. The company posted a $346 million profit, or $0.38 per diluted share. Adjusted EBITDA gained 14% to $534 million, even as operating income grew 18% to $656 million.
Despite the layoffs, fintech plans to continue recruiting top talent and lean on frontier technologies, citing principles of being “Lean & Restrained” and “High Performance.”
“Because our economy is strong, we are making this change quickly. The goal is to expand our talent pool and ensure that our culture is defined by a high-quality team and a strong commitment to our customers. This change allows our most talented people to grow and take on greater responsibility,” said Tenev.
Robinhood joins the wave of 2026 withdrawals among crypto-exposed companies. Dune Analytics cut 25% of workers in May. Right now, Gemini reducing the average population 30% this year as full-year losses reach $585 million.
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A note Robinhood Cuts Employees 10% While Promising to Continue Hiring appeared for the first time BeInCrypto.
