Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody.
Robinhood CEO Vlad Tenev said, on Tuesday, \u201cdeterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash\u201d do account for the company\u2019s Q2 results.
Robinhood had previously laid off 9% of its workforce in April. \u201cI want to acknowledge how unsettling these types of changes are,\u201d Tenev said.
The company would flatten its organizational structure to give new general managers broad responsibility for its businesses. He also said that affected employees would receive an email and a Slack message letting them know if they were being let go or still had a job, immediately after an all-hands meeting to discuss the move on Thursday.
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Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody. Robinhood CEO Vlad Tenev said, on Tuesday, \u201cdeterioration of the macro environment, with inflation at 40-year highs accompanied …<\/p>\n","protected":false},"author":13,"featured_media":69461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7113,7309],"class_list":["post-69455","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-earnings","tag-robinhood"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=69455"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69455\/revisions"}],"predecessor-version":[{"id":69463,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69455\/revisions\/69463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/69461"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=69455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}