Robinhood cuts 10% of workforce as Tenev touts business strength
Robinhood is cutting 10% of its full-time workforce, or about 290 employees, as it restructures to “flatten” management layers and improve efficiency. CEO Vlad Tenev said the company cannot operate as a heavily layered organization if it wants to scale and must keep raising performance standards. The move also closes a small number of open roles. Robinhood expects about $28 million in restructuring charges, mainly severance and benefits, mostly recognized in Q2 2026. The company said the layoffs come from a position of strength, citing record June trading volumes in equities, options, and prediction markets. Tenev said the business has “never been stronger,” and Robinhood plans to keep hiring selectively while using frontier technologies. The announcement follows a weak first quarter, when revenue and earnings missed expectations and crypto trading volumes fell sharply.
