Robinhood trims 10% of staff, targets leaner operation with $28M restructuring hit

Robinhood is cutting about 10% of its workforce to flatten management and speed product development, with expected restructuring charges totaling $28 million—$20 million of cash severance and $8 million in stock-based compensation to be recognized in Q2 2026. The move follows weakness in its crypto business and general digital-asset contraction, though the company says it remains financially strong and will hire strategically in priority areas; it is also pursuing growth through the $180 million WonderFi acquisition and expansion into prediction markets.