Trading app Robinhood to shed 10% of staff

Robinhood is laying disconnected 10% of its workers, arsenic portion of the trading app's plans to flatten organisation operation and boost efficiency.

CEO Vlad Tenev shared the quality connected societal media level X, noting the determination was made "proactively".

The determination volition interaction astir 290 workers.

Despite the workforce reduction, Tenev assured that "Robinhood's concern has ne'er been stronger. But to execute the monolithic standard of our mission, we cannot default to operating arsenic a heavily-layered organisation."

The institution had an estimated 2,900 workers astatine the adjacent of 2025.

Tenev described the retrenchment workout arsenic a "difficult decision", explaining it intends to "maximise" endowment density.

He emphasised the request for a "lean, hyper-focused squad wherever each azygous idiosyncratic is empowered to marque a monolithic impact".

According to the CEO, the flatter firm hierarchy volition make broader opportunities for high-performing workers to judge elevated responsibilities.

Affected employees are receiving notifications and volition beryllium offered transitional support, including severance benefits, helium said.

The determination comes astatine a clip erstwhile the fintech steadfast maintains a self-described "strong" fiscal position.

During its archetypal quarter, Robinhood reported a 15% year-over-year surge successful nett gross to $1.07bn. Net income reached $346m, up 3% from the anterior year, portion adjusted EBITDA improved 14% to $534m.

Going forward, the institution intends to proceed with prosecute "top-tier" endowment and trust connected frontier technologies.

Notably, successful March of past year, the institution launched a scope of wealthiness absorption features including Robinhood Strategies, Robinhood Banking, and Robinhood Cortex.

Later successful 2025, the concern made its AI-driven product, Digests by Robinhood Cortex, disposable to each users successful the UK, delivering plain-language insights regarding banal terms fluctuations.

The operational cutback places Robinhood alongside different large firm entities executing headcount adjustments.

This February, integer payments supplier Block, co-founded by Jack Dorsey, revealed plans to shrink its wide workforce by 40%. Block is lowering its headcount from supra 10,000 workers to conscionable nether 6,000 arsenic it leans connected AI.

"Trading app Robinhood to shed 10% of staff" was primitively created and published by Private Banker International, a GlobalData owned brand.