Robinhood Cuts 10% of Workforce, Incurs $28M in Charges

Robinhood Markets, Inc. announced a workforce reduction affecting approximately 10% of its full-time employees and the closure of some open roles. This action is part of efforts to maintain a high-performance culture, accelerate product velocity, and remain lean and disciplined. The company expects to incur approximately $20 million in cash restructuring and related charges for employee severance and benefits, along with approximately $8 million related to share-based compensation, totaling $28 million, to be recognized in the second quarter of 2026. Robinhood stated it is taking this action from a position of business strength, citing record June month-to-date average daily trading volumes.