Robinhood sheds 'layers' by laying off almost 9% of 3,800 staff as it seeks to also minimize burn rate of the $6 billion sitting on its balance sheet

CEO Vlad Tenev is retrenching at the Menlo Park, Calif., firm, hoping to recapture the 'focus' the company had as a 'lean' unit of 700 people.

Author Brooke Southall April 27, 2022 at 1:38 AM

2 Comments

Vlad Tenev's storybook company is having to make more grownup choices.

Technology

Robinhood

Vlad Tenev

Jeff Spears

April 27, 2022 — 10:36 AM

It is harder than it looks. A unique user interface is a good start. Unfortunately most option investors loose money. The next phase of growth will not be as sexy. It will hopefully last.

Brian Murphy

April 29, 2022 — 4:35 AM

Browsing through today's earnings release it's easy to see that Robinhood is badly sputtering. They've done some great things (zero commissions, opening crypto to retail investors, and a great app), and hopefully can pull out of this freefall. They need to rethink their positioning and how they wish to compete in order to do so however. Average account size of a bit north of $4k isn't helping them.

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