Robinhood lays off 10% of staff to flatten its organizational structure

‘Robinhood’s business has never been stronger,’ CEO Vlad Tenev said in a memo to employees. ‘But to achieve the massive scale of our mission, we cannot default to operating as a heavily layered organization.’

[Photo: Tiffany Hagler-Geard/Bloomberg via Getty Images]

In a Securities and Exchange Commission (SEC) filing on Tuesday, Robinhood said it would cut 10% of its full-time workforce of 2,900 and close a “small number” of open roles. The Menlo Park,........

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