Robinhood layoffs — Jun 16, 2026

Robinhood cuts 290 jobs, or 10% of workforce, in restructuring announced on 2026-06-16

Robinhood said on June 16, 2026, that it will lay off about 290 employees, representing roughly 10% of its full-time workforce, as part of a restructuring aimed at simplifying its management structure and improving efficiency. The fintech company also said it will close the small number of remaining open positions as part of the move.

The company expects about $28 million in related restructuring charges. Robinhood said roughly $20 million of that total will come from severance and employee benefit costs, while about $8 million will be tied to share-based compensation expenses. The charges are expected to be recognized during the second quarter.

In a message to employees shared on X, Robinhood CEO Vlad Tenev said the company was entering the restructuring from a position of strength. “Robinhood’s business has never been stronger,” Tenev wrote, adding that the company could not continue operating as a heavily layered organization and needed to remain focused. He said the goal was to “maximize our talent density” and maintain “an absolute elite performance bar” for customers.

Robinhood, an online brokerage and fintech platform, has faced pressure in recent months after weaker crypto trading weighed on its first-quarter results and profit. The company said the restructuring is intended to reduce layers of management and create a leaner organization. It also said it will continue hiring strategically and investing in top-tier talent and frontier technologies.

The announcement came as trading activity improved, with Robinhood saying record June trading volumes support the restructuring move. Investor reaction was positive, with Robinhood shares rising nearly 3% in premarket trading, though the stock remained down 13% for the year through Monday’s close.

Sources: crypto.news