Robinhoods Layoff Woes Continue: Third Round Announced

By Lola Coin Jun 27, 202374Views

Robinhood, the well-known trading platform, is undergoing its third round of layoffs, which will see around 150 employees lose their jobs. The decision was made due to a decline in customer trading activity since the second quarter of 2021. The company intends to reorganize its teams and align them with the current volumes. This year alone, Robinhood has reduced its workforce by 30%. Detractors of the company argue that its rapid growth and lack of regulatory supervision have created a volatile trading atmosphere, which could potentially harm individual investors. The recent layoffs by Robinhood are seen as an attempt to streamline its operations and adapt to the changing market conditions.

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