Robinhood Cuts 10% of Its Workforce but Says Hiring Will Continue

Robinhood is cutting around 290 full time roles, equal to roughly 10% of its workforce, as CEO Vlad Tenev moves to make the company leaner, faster, and more focused.

The trading platform described the decision as a proactive step from a position of strength, not a reaction to financial pressure. The company pointed to strong activity across stocks, options, and prediction markets, with June showing record trading volumes.

Robinhood had about 2,900 full time employees at the end of December, meaning the reduction affects around 290 positions. The company expects to record about 20 million dollars in severance and employee benefit costs, along with around 8 million dollars in stock based compensation expenses. These costs are expected to appear in the second quarter.

Tenev said Robinhood’s business is performing strongly, but the company cannot continue operating with too many organizational layers as it scales. According to him, the goal is to build a smaller and more focused team where each person can have a greater impact.

The company’s first quarter results showed net revenue rising 15% year over year to 1.07 billion dollars. Robinhood also reported 346 million dollars in profit, equal to 0.38 dollars per diluted share. Adjusted EBITDA increased 14% to 534 million dollars, while operating expenses rose 18% to 656 million dollars.

Despite the layoffs, Robinhood said it will continue recruiting high level talent and investing in advanced technology. The company emphasized values such as discipline, efficiency, and high performance.

Tenev added that the decision is designed to strengthen Robinhood’s culture, raise performance standards, and create more opportunities for its strongest employees to grow and take on greater responsibility.

The move comes as several companies connected to the crypto and trading sectors have reduced staff in 2026. Other firms in the space have also made significant cuts this year, reflecting a wider push across the industry to control costs and improve efficiency.