The layoffs are to reduce duplicate roles and eliminate unnecessary layers of complexity following a period of massive growth in headcount, according to Tenev. Since the beginning of 2020, Robinhood’s ranks have grown from 700 to 3,800 workers.
Estimated reading time: 0 minutes, 17 seconds
Robinhood Axes 9% Of Workforce
Vlad Tenev, CEO of Robinhood, said the firm is cutting 9% of its workforce. So reports CNN.
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