Robinhood stated on June 16, 2026, it will reduce its full-time workforce by 10%, equal to about 290 to 300 roles, as part of a company restructuring [1, 2, 3, 4, 5]. The company will also close a small number of open positions [2, 3, 4].
At the end of 2025, Robinhood employed roughly 2,900 full-time workers [4]. Severance and benefit costs related to the cuts are expected to total approximately $20 million, with an additional $8 million in share-based compensation expenses. These $28 million charges will be recognized in the second quarter of 2026 [2, 4, 5].
CEO Vlad Tenev said, "Robinhood’s business has never been stronger. We cannot default to operating as a heavily layered organisation. We must be a lean, hyper-focused team" [4]. The workforce cuts aim to accelerate product development by creating a more disciplined and efficient operation [3, 4, 5].
Robinhood described its trading activity as strong, noting record trading volumes so far in June 2026 [4]. After the announcement, Robinhood shares rose modestly in premarket trading, gaining between 0.9% and 2.5% [2, 4, 5].
The layoffs follow a broader fintech trend as companies like Coinbase, PayPal, and Crypto.com have also reduced headcount [3].
Robinhood plans to finalize the restructuring and recognize related costs by the end of the current quarter [2, 4].
