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Robinhood Culls 300 in 10% Headcount Cut as Fintechs Retrench

June 16, 2026, 11:44 AM UTC
Paige Smith
Paige Smith
Reporter

Robinhood Markets Inc. said it’s cutting 10% of its workforce, a reduction of around 300 positions, to “remain lean and disciplined” as it develops new products.

In addition to the cuts, Menlo Park, California-based Robinhood will close a small number of open roles across the company, according to a regulatory filing Tuesday. The firm’s shares were up 1.7% at 7:35 a.m. in early New York trading.

WATCH: Robinhood Markets says it’s cutting 10% of its workforce, a reduction of around 300 positions, while BlackRock is said to be eliminating just under 1% of its workforce. Katherine Doherty has more on “Bloomberg Open Interest.” Source: Bloomberg

Robinhood follows a number of financial-technology firms that have cut jobs in recent months, including Block Inc., Crypto.com, Coinbase Global Inc. and PayPal Holdings Inc. While many of ...

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