https://techcrunch.com/2022/04/26/robinhood-to-lay-off-9-of-full-time-employees/
Robinhood CEO Vlad Tenev announced Tuesday that it was laying off 9% of its full-time employees.
Earlier this year, Reuters reported that Robinhood had 3,400 employees, and though that did not specify full-time versus contract, it looks like this cut may affect some 300 people according to TechCrunch calculations.
The U.S. consumer investing and trading service company, which went public at $38 in July 2021, saw its value peak at $85 per share before entering a steady decline that saw its value erode to a mere $10 per share. The company lost 3.75% in today’s trading — the market was lower today, overall — and another 5% in after-hours trading in light of its layoff announcement.
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