According to Reuters, the trading platform Robinhood announced it will cut approximately 10% of its full-time staff and close a small number of remaining open positions. Robinhood expects to incur about $20 million in employee severance and restructuring costs related to benefits, as well as approximately $8 million in equity incentive expenses, which are expected to be recognized in the second quarter. Following the announcement, Robinhood's stock price rose about 1.3% pre-market.

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On-ChainCheatSheetKing
· 2h ago
From the GameStop frenzy to layoffs in winter, the cycle is really short
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SpiralSeaSalt
· 2h ago
The crypto bear market has ended, and traditional finance is now in a bear market. Who's next?
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BoringButBullish
· 2h ago
Pre-market up 1.3% indicates the market had anticipated this early.
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RugpullTherapist
· 2h ago
Layoffs + job cuts, the Q2 financial report is going to look bad for a while.
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AirdropsAfterTheTideRecedes
· 2h ago
20 million severance pay, how much did the laid-off brother get, N+?
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