Robinhood Cuts 10% of Staff, $28M Restructuring Costs on June 16

According to BlockBeats, Robinhood announced on June 16 that it will cut approximately 10% of full-time employees and halt new hiring for unfilled positions. The company expects $20 million in severance and benefits costs plus $8 million in equity compensation, totaling $28 million in restructuring charges to be recognized in Q2 2026.

Robinhood's stock rose 1.3% in premarket trading following the announcement.

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