Robinhood cuts 10% of workforce despite record trading volumes, expects $28M in charges

Filed June 16, 2026 · Period ending June 16, 2026 · ~1 min read

Key Changes

• high

  Company eliminating approximately 10% of full-time employees plus closing open roles, citing desire to maintain performance culture and accelerate product development despite strong business conditions.

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• high

  Restructuring will cost $28M total in Q2 2026: $20M in cash severance and benefits, plus $8M in share-based compensation charges.

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• medium

  Management emphasizes layoffs come during record trading volumes across equities, options, and prediction markets in June month-to-date, suggesting strategic rather than distress-driven cuts.

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