The retail trading platform Robinhood Markets Inc., which went through a hyper-growth period boosted by the meme stock frenzy during the COVID-19 pandemic, is experiencing a pullback and laying off 9% of its full-time employees.
The company's total headcount was 3,800 at the end of 2021.ROBINHOOD CFO DOESN’T PLAN TO PUT ‘MEANINGFUL AMOUNT’ OF CASH INTO CRYPTO ASSETS
"This rapid headcount growth has led to some duplicate roles and job functions, and more layers and complexity than are optimal," said Teney. "After carefully considering all these factors, we determined that making these reductions to Robinhood’s staff is the right decision to improve efficiency, increase our velocity, and ensure that we are responsive to the changing needs of our customers.
The company announced plans in March to extend trading hours for customers an extra six-and-a-half hours of trading daily. "We will continue to accelerate our product momentum through 2022 and will introduce key new products across brokerage, crypto and spending/saving," said Tenev.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Robinhood announces layoffs ahead of first-quarter earnings releaseBrokerage app company Robinhood has laid off 'approximately 9%' of its global staff, according to a blog post from the firm's CEO Vlad Tenev.
Weiterlesen »
Robinhood axes almost 1 in 10 staff members as stock hits all-time lowRobinhood stated in the announcement that it is positioned well for the future with more than $6 billion worth of cash on its balance sheet, and plans to introduce new products across brokerage, crypto, spending and savings.
Weiterlesen »
Robinhood to lay off 9% of workforce as its stock hits new lowRobinhood is cutting 9% of its workforce, the online-trading platform’s chief executive announced Tuesday afternoon, as the company’s stock hit another new low. Robinhood increased its workforce from about 700 employees to nearly 3,800 since early 2020.
Weiterlesen »
Bybit to offer crypto options trading to customersCEO Ben Zhou says the company wants to be the Robinhood of crypto options trading.
Weiterlesen »
House Republicans plot to impeach MayorkasNEW: The largest body of conservatives in the House — the Republican Study Committee — is laying the groundwork to push for the impeachment of Homeland Security Secretary Alejandro Mayorkas.
Weiterlesen »
City staff 'to listen' to opponents of Brackenridge Park tree removal planAt that first meeting, city staff attempted to start off with a 30-minute presentation on the project, but attendees complained that they felt silenced.
Weiterlesen »