Robinhood will lay off about 10% of its full-time workforce as part of efforts to remain lean and speed up product development.
According to an SEC filing, the company will also cancel hiring for a small number of vacant roles.
Robinhood expects to record about US$20 million in cash charges related to severance and employee benefits, along with roughly US$8 million in share-based compensation costs.
The company expects to recognise the charges in the second quarter of 2026.
Robinhood announced the layoffs despite reporting record average daily trading volumes in June to date across equities, options and prediction markets.
Featured image: Edited by Fintech News Singapore, based on image by pe_jo via Magnific
