– Retail buying and selling platform Robinhood Markets Inc stated on Tuesday it's shedding about 9% of its full-time workers, sending its shares down 5% in prolonged commerce.
The corporate, which is reporting its quarterly outcomes later this week, stated the speedy headcount progress has led to some duplicate roles and job features.
As of Dec. 31, the corporate’s complete headcount was 3,800.
Robinhood’s easy-to-use interface has made it successful amongst younger traders buying and selling from house on cryptocurrencies and shares corresponding to GameStop Corp in the course of the COVID-19 pandemic.
“We'll proceed to speed up our product momentum by means of 2022 and can introduce key new merchandise throughout brokerage, crypto and spending/saving,” Chief Government Officer Vlad Tenev wrote in a blogpost. (https://bit.ly/3LmOj1P)
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