02.08.2022 23:45 Uhr, Quelle: Engadget

Robinhood lays off almost a quarter of its staff

For the second time this year, Robinhood is cutting its headcount. On Tuesday, the company announced it would lay off 23 percent of its workforce. According to CEO Vlad Tenev, the cuts will affect every part of Robinhood’s business but will primarily target the company’s “operations, marketing and program management functions.”Tenev blamed a deteriorating macro environment for the decision, pointing to record inflation and the cryptocurrency crash as the primary drivers of the company’s recent woes. Additionally, he acknowledged the company overhired last year on the assumption retail investors would continue trading stocks and crypto assets at the rate they had during the early stages of the pandemic. Prior to April when Robinhood laid off nine percent of its workforce, the company had a headcount of approximately 3,800. “As CEO, I approved and took responsibility for our ambitious staffing trajectory – this is on me,” he said.On Tuesday, Robinhood also announc

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