Robinhood cuts 10% of staff, eliminating about 290 jobs
What's new: The company expects about $28 million in second-quarter charges and said June trading volumes hit records.
Robinhood is cutting 10% of its full-time workforce, or about 290 roles, as the online trading platform flattens management layers and shuts the few open positions it still had. The Menlo Park, California, company said the restructuring is meant to make decision-making faster and operations more efficient. Robinhood expects roughly $20 million in severance and benefits costs and about $8 million in share-based compensation expenses, all to be recognized in the second quarter. The company had about 2,900 full-time employees at the end of 2025. Shares rose nearly 2.5% in premarket trading after the move. Robinhood said June month-to-date average daily volumes in equities, options and prediction markets reached record levels.