Robinhood announced a 10% workforce reduction, expecting to incur approximately $28 million in restructuring charges

BlockBeats News, June 16th, Robinhood (HOOD) announced on Tuesday that it will lay off approximately 10% of its full-time employees and simultaneously halt the existing recruitment process for a small number of open positions.

The company expects this round of layoffs to result in about $20 million in employee severance and benefits costs, along with around $8 million in stock-based compensation expenses, for a total restructuring cost of approximately $28 million, which will be recognized in the second quarter of 2026. Following the announcement, Robinhood's stock price rose 1.3% in pre-market trading.