Online Broker Robinhood Cuts 10% of Workforce in Restructuring

Robinhood is a U.S. online brokerage that rose to prominence by offering commission-free trading in stocks, options and cryptocurrencies. After going public in 2021, it conducted two rounds of layoffs in 2022 as the retail-trading boom faded. The latest cuts show that even as Robinhood expands its financial services and trading volumes recover, the company continues to prioritize reducing management layers and accelerating product launches.

Robinhood Markets said in a June 16, 2026, filing with the U.S. Securities and Exchange Commission that it would cut about 10% of its full-time workforce, or roughly 290 employees, and eliminate a small number of open positions. It expects to record $20 million in severance and benefits costs and $8 million in stock-based compensation expenses in the second quarter. CEO Vlad Tenev said trading was subdued in the first quarter, but average daily volumes in stocks, options and prediction markets had all reached record highs so far in June.