Robinhood plans to lay off ~9% of its full-time employees, after growing its headcount from 700 to nearly 3,800 between 2019 to 2021
Under the Hood :
Under the Hood
Related Coverage
- View article Finextra
- View article Gizmodo
- View article Crunchbase News
- Robinhood lays off nine percent of its full-time employees Engadget · Mariella Moon
- Robinhood Cutting 9% of Full-Time Staff as ‘Hyper Growth’ Ebbs Bloomberg · Annie Massa
- Robinhood to Get Rid of 9% of Its Staff after Stocks Tank Coinspeaker · Sanaa Sharma
- Robinhood announces layoffs ahead of first-quarter earnings release The Block · Michael McSweeney
- Robinhood lays off 9% of employees, claiming duplicated roles and job functions SiliconANGLE · Duncan Riley
- After Spurt of Pandemic-Driven Hiring, Robinhood Cuts 9% of Full-Time Staff PYMNTS.com
Discussion
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@sarthakgh
@sarthakgh
on x
Robinhood was valued at 12 billion in private market. Now at <9 billion. Coinbase was at 68 billion. Now at 28 billion. SoFi went public at ~9 billion. Now at 5 billion. Root was valued at ~4 billion in private market. Now at <0.5 bil Maybe its time to revisit this fintech thing
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@brooke
Brooke Hammerling
on x
Next role for Jared Leto seems clear. https://twitter.com/...
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@thekenyeung
@thekenyeung
on x
Robinhood to lay off 9% of its full-time workforce, cites redundancy in roles and job functions following a rapid headcount growth in 2020 and 2021. https://blog.robinhood.com/...
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@infinitesn4ke
@infinitesn4ke
on x
Sad news for those affected at RobinHood, but DAO founders, PLEASE take notice. The Silicon Valley playbook has become hypergrowth -> IPO -> layoffs. These hypergrowth phases exist to pump the IPO - just like your token launch. And they're not sustainable. https://blog.robinhood.…
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@kateclarktweets
Kate Clark
on x
CEO Vlad Tenev says in a blog post that the company's rapid growth in 2020 and 2021 “led to some duplicate roles and job functions, and more layers and complexity than are optimal.” Says it will be “scrutinizing” headcount targets moving forward. https://blog.robinhood.com/...
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@markbrokeit
@markbrokeit
on x
If the HR app was written by the same people that did their website, it'll take them a few months to process all of these terminations. https://twitter.com/...
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@carnage4life
@carnage4life
on x
In contrast to the news from Google and Microsoft, Robinhood is going to lay off 9% of staff (340 people) because of due to duplicate job roles and functions. It's been a bloodbath for all of the high valuation startups that IPOed last year. 😬 https://www.cnbc.com/...
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@kr00ney
Kate Rooney
on x
Robinhood cutting 9% of its full-time employees. Comes after hyper-growth for $HOOD during the pandemic, growing headcount almost 6X from 700 to nearly 3800 “This rapid headcount growth has led to some duplicate roles and job functions” https://blog.robinhood.com/... https://twit…