Robinhood layoffs 2026: company cuts 10% of workforce

According to a regulatory filing signed by CFO Shiv Verma, the workforce simplification is aimed astatine goals the institution described arsenic "maintain a precocious show culture, further accelerate merchandise velocity, and stay thin and disciplined." Severance and benefits volition thrust astir $20 cardinal successful currency restructuring charges, the institution said, with an further $8 cardinal attributable to share-based compensation — some to beryllium booked successful the 2nd 4th of 2026. The institution besides said it would adjacent a tiny fig of unfastened roles.

Robinhood CEO Vlad Tenev addressed employees successful a memo shared connected X, declaring the institution has "never been stronger" and describing the layoffs arsenic a means of raising the barroom connected endowment density and cementing what helium called "an implicit elite show bar" for the culture. "To execute the monolithic standard of our mission, we cannot default to operating arsenic a heavily-layered organization," Tenev said. "We indispensable beryllium a lean, hyper-focused squad wherever each azygous idiosyncratic is empowered to marque a monolithic impact."

Robinhood said the enactment comes from a presumption of concern strength, with June month-to-date mean regular trading volumes astatine grounds levels crossed equities, options, and prediction markets. The institution presently employs astir 2,900 full-time workers, according to MarketWatch.

Robinhood banal roseate much than 2% connected Tuesday.

The layoffs get arsenic the broader exertion and fintech sectors person seen a question of occupation cuts. Tech-sector employers announced 123,653 occupation cuts done the archetypal 5 months of 2026, a 66% summation implicit the aforesaid play successful 2025, with artificial quality cited arsenic the starring crushed for eliminations crossed each industries for 3 consecutive months. Fintech companies reported 5,731 cuts successful May alone.

About a period ago, Yahoo Finance reported that Coinbase Global moved to shed astir 700 positions — equivalent to 14% of its headcount — with CEO Brian Armstrong pointing to crypto marketplace headwinds and the demands of the AI epoch arsenic driving factors.

Data from the first-quarter net study illustrated the hostility down the move: unit levels climbed 22% year-over-year, portion annualized gross per worker slid 8% to $1.4 cardinal compared with the aforesaid 4th a twelvemonth earlier.