{"id":94008,"date":"2022-08-02T20:57:23","date_gmt":"2022-08-02T20:57:23","guid":{"rendered":"https:\/\/omni48.com\/news\/robinhood-cutting-workforce-by-23"},"modified":"2022-08-02T20:57:23","modified_gmt":"2022-08-02T20:57:23","slug":"robinhood-cutting-workforce-by-23","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/robinhood-cutting-workforce-by-23","title":{"rendered":"Robinhood cutting workforce by 23%"},"content":{"rendered":"<p>Aug 2 (Reuters) &#8211; Retail trading platform Robinhood Markets Inc (HOOD.O) said on Tuesday it is laying off about 23% of its employees, sending its shares down more than 3% in extended trading. The company is also changing its organizational structure to &#8220;drive greater cost discipline,&#8221; Robinhood Chief Executive Officer Vlad Tenev said in a blog post. Robinhood had already slashed 9% of its workforce in April, saying the company&#8217;s growth had led to some duplicate roles and job functions. Tenev said Tuesday that those cuts did not go far enough. read more &#8220;As CEO, I approved and took responsibility for our ambitious staffing trajectory &#8211; this is on me,&#8221; Tenev said. Robinhood&#8217;s easy-to-use interface made it a hit among young investors trading from home on cryptocurrencies and stocks such as GameStop Corp (GME.N) during the COVID-19 pandemic. However, the company has posted declines in revenue as its customer base has been spooked by rising interest rates and decades-high inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aug 2 (Reuters) &#8211; Retail trading platform Robinhood Markets Inc (HOOD.O) said on Tuesday it is laying off about 23% of its employees, sending its shares down more than 3%<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[33,27,228],"class_list":["post-94008","post","type-post","status-publish","format-standard","hentry","category-news","tag-business","tag-economy","tag-retail"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/94008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=94008"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/94008\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=94008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=94008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=94008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}