Some 340 Robinhood Employees Are About To Lose Their Jobs – Here’s Why
Robinhood, the app that popularized free one-click stock and crypto trading, revealed on Tuesday that it would lay off roughly 340 full-time employees, or around 9% of the 3,800 workforce. The move, according to Robinhood CEO Vlad Tenev, is in response to a decline in active users following a period of rapid growth early in […]
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Robinhood Markets announced Tuesday plans to render another 23% of its workforce jobless – just months after the app-based brokerage let go of 9% of its employees. On Tuesday, Robinhood said it was laying off 780 employees and also announced the departure of a key executive. The job cuts were concentrated in marketing, operations and […]
Major financial players are feeling the effect of the ongoing financial crisis and are forced to cut down staff numbers all over the world. Barclays, one of the biggest banks in the world, has announced they will be cutting at last 1,200 jobs. Especially their Asian branch, which will be hit the hardest by this decision, as 230 employees will be let go....
Robinhood has IPO’d recently, raising close to $2 billion. This is quite a low figure from the $32 billion that the company was valued at before it went public. Robinhood had surged to popularity during the 2020 pandemic when meme stocks had blown up on social media. The app which offered seamless stocks and crypto […]
Robinhood’s crypto related activities have been on an expansion but it has now been charged with regulatory violation. The recent-most regulatory concern was surrounded around violating anti-money laundering and cybersecurity rules. A New York State department stated that the crypto unit of Robinhood had defied certain regulations and was penalised for it. The Robinhood Markets […]
It appears that the current state of the digital market is hitting hard on the economy of certain crypto exchanges. The BlockFi cryptocurrency lending and exchange platform, Crypto.Com, and Gemini are a few examples to pinpoint. According to BlockFi’s blog post by its co-founders, Flori Marquez and Zac Prince, around 20% of its 850+ staff […]