Robinhood Announces 10% Workforce Reduction Amid Declining Crypto Revenue
Robinhood is cutting its workforce by 10%, citing the need to streamline operations due to a significant drop in crypto-related revenue. The company reported that Q1 crypto transaction revenue fell 34% sequentially, and CEO Vlad Tenev emphasized maintaining a lean structure for future growth.
Tickers: $HOOD
Topics: crypto revenue decline layoffs Robinhood