This Robinhood isn’t so worried about its folks.
Financial technology company Robinhood announced Tuesday it would cut 290 jobs, or 10% of its workforce.
CNBC reported the financial trading platform believes it can operate more efficiently by eliminating some management positions.
“Robinhood’s business has never been stronger,” CEO Vlad Tenev said in a note to employees shared on social media platform X. “We cannot default to operating as a heavily-layered organization. We must be a lean, hyper-focused team.”
