Why is Robinhood cutting 290 jobs?

Robinhood is cutting about 290 jobs, or roughly 10% of its workforce, to reduce management layers and operate more efficiently. The company said the restructuring is intended to create a leaner organisation while maintaining strategic hiring.

What are the costs of Robinhood's restructuring plan?

Robinhood expects approximately US$28 million in restructuring-related charges. The total includes about US$20 million in severance and employee benefit costs and roughly US$8 million in share-based compensation expenses.

How is Robinhood's crypto business performing?

Robinhood reported that cryptocurrency trading revenue fell 47% year over year to US$134 million during the first quarter. The decline contributed to weaker earnings results and lower transaction-based revenue.

What does Robinhood's recent trading activity mean for the business?

Robinhood said June month-to-date trading volumes reached record levels across equities, options and prediction markets. The company cited stronger market activity compared with conditions seen earlier in the year.

How is Robinhood expanding beyond trading services?

Robinhood has expanded into retirement accounts, wealth management services and credit cards to diversify revenue sources. The company also entered Canada through its acquisition of WonderFi, extending its investing products beyond the United States.

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Robinhood cuts 290 jobs amid restructuring

Written by Liezl GambePublished Jun 17, 2026, 12:00 AMLast Updated Jun 16, 2026, 11:55 PM

Robinhood will cut about 290 jobs, representing roughly 10% of its workforce, as part of a restructuring effort.
The company expects about US$28 million in related charges, while shares rose nearly 3% in premarket trading.
Robinhood said the changes are intended to reduce management layers and improve operating efficiency.

Robinhood said it will eliminate about 290 jobs, or roughly 10% of its full-time workforce, while recording approximately US$28 million in restructuring-related costs.

The workforce reduction follows a weaker first quarter in which cryptocurrency trading revenue fell 47% year over year to US$134 million and profit missed Wall Street expectations.

“Because our financial position is strong, we are making this change proactively,” said Robinhood Chief Executive Officer Vlad Tenev.

The company expects to record about US$20 million in severance and employee benefit costs and approximately US$8 million in share-based compensation expenses, with the charges recognised during the second quarter.

Robinhood said the restructuring is designed to reduce management layers and improve efficiency, while continuing to hire selectively in key areas; following the announcement the Robinhood share price was up nearly 3% in premarket trading.

The company reported record month-to-date June trading volumes across equities, options and prediction markets, which contrasted with weaker trading activity reported during the January-to-March quarter.

Robinhood has also expanded beyond its core brokerage business through retirement accounts, wealth management services and credit cards, while recently entering Canada through its acquisition of WonderFi to broaden its international presence.