Broker Robinhood Slashing Nearly One-Quarter of Workforce

Aug 03,2022
KingData News: Online trading brokerage Robinhood (HOOD) is cutting headcount by 780 workers, or about 23% its employees, in order to further streamline costs amid a continuing decline in monthly active users on the platform. This is the second round of layoffs for the company this year. It earlier trimmed 9% of its workforce. The company expects to occur about $30 million-$40 million in cash restructuring and related charges from employee severance and benefits costs.
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