10:20:25 AM PDT - Thursday, August 11th, 2022

Robinhood cuts 23% of staff, CEO Vlad Tenev says, ‘This is on me’  

By Editor - Tue Aug 02, 2:02 pm

It’s been a volatile year for retail investment behemoth Robinhood . The fintech company is laying off 23% of its workforce , as first reported by the Wall Street Journal and confirmed by TechCrunch. The layoff comes just three months after Robinhood cut 9% of full time staff. At the time of its last layoffs in late April, it is believed that Robinhood had about 3,100 employees after letting go of around 300 workers. Doing the math, a 23% reduction in staff would amount to about 713 employees affected, leaving roughly 2,400 employees currently employed at the company The company did not comment directly on the latest layoffs, pointing TechCrunch only to a blog post by CEO and co-founder Vlad Tenev . In that post, Tenev wrote that while “employees from all functions would be impacted, the layoffs are “particularly concentrated” in the company’s operations, marketing, and program management functions

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Robinhood cuts 23% of staff, CEO Vlad Tenev says, ‘This is on me’

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