Robinhood carries out third round of layoffs
US trading platform Robinhood Markets reportedly cut its workforce for the third time, as the company faces a decline in crypto trading activities and customer demand for its services. Robinhood let go of 150 employees representing 7% of its full-time workforce, according to the Wall Street Journal which cited an internal company message. The latest round of layoffs affected staff in customer trust and safety, customer experience and platform shared services, and safety and productivity. According to WSJ, Robinhood’s chief financial officer Jason Warwick in the internal company message said that cuts were carried out to “adjust to volumes and to better align team structures.” You might also like: Binance initiates layoffs amid market uncertainty, sources claim “We’re ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume, workload, org design, and more.” Robinhood spo...