Robinhood cuts its full-time staff by 9%, shares fall sharply

Robinhood CEO Vlad Tenev said in a blog post on Tuesday that the “duplicate roles and job functions” were among the reasons the company decided to release the employees.
Robinhood has announced that 9% of its full-time staff have been let go amid the need to downsize after a rapid expansion over the past couple of years.
The trading app, founded in 2013, says its employee count grew exponentially through 2020 and the first half of 2021. As customer demand increased due to the pandemi