Robinhood's CEO said the company was "flattening" its organizational structure to avoid becoming a "heavily-layered organization."
Robinhood layoffs will cut 10% as part of an org chart 'flattening.' Read the CEO's memo.
By
Ben Shimkus
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Robinhood cuts 10% of staff, expects $28 million in restructuring charges
Robinhood announces it will reduce headcount by 10%, CEO seeks to avoid ‘heavily-layered’ organization | Fortune
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Robinhood cut 10% of its staff and expects $28 million in restructuring charges tied to flattening management layers and an…
Robinhood is cutting hundreds of jobs even as profits rise and new products like prediction markets help bolster growth.
The company said it expects restructuring charges of about $20 million.
CEO Vlad Tenev said while the firm is in a strong financial position, it has been a ‘heavily-layered organization'.
Robinhood is cutting roughly 10% of its full-time employees, about 290 people, and taking a $28 million restructuring charge in…
Robinhood Markets is cutting 290 employees, about 10% of its workforce, as crypto transaction revenue drops 47% year-over-year to…
