Robinhood Cuts 10% of Workforce, Expects $28 Million in Restructuring Charges

According to an SEC filing on Tuesday (June 16), Robinhood Markets Inc. is cutting approximately 10% of its workforce with expected restructuring costs of $28 million, comprising $20 million in severance and benefits and $8 million in share-based compensation charges to be recognized in Q2 2026. CEO Vlad Tenev said the move aims to flatten management layers and accelerate product velocity, describing the restructuring as proactive and executed while the company remains in a position of business strength.
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