Robinhood is cutting about 290 jobs, or roughly 10% of its full-time workforce, as the online brokerage streamlines its operations while positioning itself for renewed growth in crypto and retail trading.
The company said the layoffs are part of an effort to reduce management layers and operate with a leaner structure. Robinhood also plans to eliminate its remaining open roles, saying the move is designed to improve efficiency rather than respond to financial weakness.
Our CEO Vlad Tenev shared the following note with our team at Robinhood today:
Robinhoodies,
We’ve made the difficult decision to say goodbye to some of our team members today. Those departing are being notified, and we’re offering them full support through this transition,…
— Robinhood Comms (@RobinhoodComms) June 16, 2026
Chief Executive Officer Vlad Tenev told employees that the restructuring comes from a position of strength, stressing that the company wants to maintain a high-performance culture while continuing to invest in top talent and new technologies.
Crypto trading recovers after weak start to the year
The workforce reduction comes as Robinhood reports stronger activity across its platform, including record average daily trading volumes in equities, options, and prediction markets during June.
The rebound follows a difficult first quarter in which cryptocurrency trading slowed sharply. Revenue from crypto transactions dropped 47% year over year to $134 million between January and March, contributing to weaker-than-expected earnings.
Robinhood approved a new share repurchase program in March authorizing the buyback of up to $1.5 billion of its Class A common stock, aiming to stabilize shareholder value following a challenging first quarter where the company’s stock price plummeted by 39%.
Robinhood pushes beyond crypto cycles
The latest restructuring is expected to result in about $28 million in charges during the second quarter, including severance payments and share-based compensation expenses.
Additionally, Robinhood’s new blockchain project reached an early milestone in February, with its Robinhood Chain testnet processing more than four million transactions within its first week, according to CEO Vlad Tenev.
The move broadens Robinhood’s reach beyond its core U.S. business while strengthening its presence in digital assets and retail investing. With crypto activity showing signs of recovery and trading volumes improving, the company appears focused on building a more efficient business while pursuing long-term growth.
Expansion continues despite workforce cuts
To reduce its reliance on volatile trading activity, Robinhood has continued expanding into products that generate steadier revenue. The company has been growing its retirement accounts, wealth management services, and credit card business as part of that strategy.
Even as it trims staff, Robinhood is continuing its international expansion. Earlier this month, the company entered the Canadian market by launching stock and options trading through its acquisition of crypto platform WonderFi.
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