Tuesday, Robinhood Markets (NASDAQ:HOOD) revealed it was laying off over a quarter of its workforce, the latest cost-cutting measure by the financial trading app to adapt to a shifting market climate. Fintech, which became popular during the meme-stock frenzy and went public with much fanfare in July, announced a 23 % reduction in its workforce. According to a business blog post, the majority of the layoffs will affect the operations, marketing, and program management departments. The announcement, however, noted that personnel from all segments will be affected. After reducing its full-time workforce by 9% at the end of ...
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In a Further Cost-Cutting Effort, Robinhood Plans to Reduce Its Headcount by 23%.