Robinhood to Cut 10% of Full-Time Staff and Freeze Remaining Open Roles

Robinhood will lay off 10% of its full-time employees and stop hiring for the remaining open positions on its trading platform. According to Foresight News, the move is expected to result in about $20 million in restructuring charges related to employee severance and benefit costs, along with about $8 million in stock-based compensation expenses.