.RobinhoodApp has cut jobs for the third time since April 2022. This time it laid off 7% of its staff, or about 150 employees, according to a report from The Wall Street Journal. By amitoj
Trading platform Robinhood has shed 7% of its full-time staff, about 150 employees, in a third round of layoffs since April 2022, The Wall Street Journal reported citing an internal company message.
The company, whose customers use the platform to trade stocks, options and crypto, made cuts as it adjusts to a slowdown in customer trading activity, the WSJ said. The number of active traders had dropped to fewer than 11 million in May, down from a peak of 21 million a month in second-quarter 2021, according to the newspaper. Crypto tradingRobinhood didn't immediately respond to a CoinDesk request for comment.
The layoffs were made to “adjust to volumes and to better align team structures,” Chief Financial Officer Jason Warnick told the WSJ in a message. “We’re ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume, workload, org design, and more,” a spokesperson told the newspaper.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robinhood is laying off around 7% of staff, WSJ reportsStock-trading app Robinhood Markets Inc. is laying off around 7% of its full-time staff, or around 150 people, the Wall Street Journal reported on Monday....
Read more »
Robinhood to cut some full-time jobs as trading demand easesTrading platform Robinhood Markets said on Monday it was cutting some of its full-time jobs, as it looks to offset costs amid slowing demand for its services.
Read more »
Robinhood to axe 7% of full-time staff in latest round of layoffs: ReportAccording to an internal company message robinhoodapp is set to let go of approximately 7% of its total workforce — in its third round of layoffs in just over a year.
Read more »
Robinhood lays off 7% of staff to 'adjust to volumes': WSJRobinhood laid off staff to adjust to an environment of low trading activity, according to an internal memo penned by chief financial officer Jason Warnick.
Read more »
Billions of DOGE Shoveled as Robinhood Increases Its Dogecoin StashNearly four billion Dogecoin have been moved by anonymous entities in two large transfers
Read more »
Honoring L.A. area high school athletes, coaches and staff who died in 2022-23Honoring the Los Angeles area high school athletes, coaches and support staff who died during the 2022-23 school year.
Read more »