Written by Helen Partzstaff writerReviewed by Yohan Yunstaff writer

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff writer

Robinhood cuts 10% of workforce as Tenev touts business strength

Latest NewsPublishedJun 16, 2026

Why Job Cuts at Robinhood Matter to You

Retail trading platform Robinhood is cutting about 10% of its workforce, affecting around 290 employees, as part of a restructuring effort to improve efficiency. This move may seem surprising, given that CEO Vlad Tenev claims the company’s business “has never been stronger”. However, it highlights the challenges faced by companies in the finance and crypto space, including the need to adapt to changing market conditions and find new ways to generate passive income.

Impact on the Crypto Industry

The layoffs at Robinhood are not an isolated incident, as other major crypto companies have also made similar moves to reduce costs and improve efficiency. This trend underscores the importance of finding alternative sources of revenue, such as Cloud Rewards and Green Crypto initiatives. For individuals looking to earn online, platforms like EcoPool offer a solution for generating passive income through coin rewards.

What This Means for Earning Online

The job cuts at Robinhood serve as a reminder that the traditional employment landscape is changing. With the rise of Web3 technologies, individuals have more opportunities to earn online through platforms like EcoPool. By leveraging EcoPool ($ECP), users can participate in cloud mining and earn rewards in the form of $ECP, providing a new avenue for generating passive income.

As the crypto industry continues to evolve, it’s essential to stay informed about the latest developments and opportunities. Whether you’re interested in earning online or simply want to stay up-to-date on the latest crypto news, following #Bitcoin and #PassiveIncome can provide valuable insights. With the rise of Green Crypto and Cloud Rewards, the future of online earning is looking brighter than ever.

Join the EcoPool Community

To start earning online and taking advantage of Cloud Rewards, download the EcoPool app and join the community today. With EcoPool, you can earn $ECP and participate in the growing Web3 ecosystem, providing a new way to generate passive income and achieve your financial goals.

Layoffs to affect around 290 employees

The layoffs are expected to affect about 290 employees, as Robinhood currently has approximately 2,900 full-time employees, a spokesperson for the company told Cointelegraph.

Robinhood previously reported roughly 2,900 in full-time staff as of Dec. 31, 2025, according to its Form 10-K filing with the US Securities and Exchange Commission.

In a separate Form 8-K filed on Tuesday, the company said the reduction in force also includes the closure of a small number of remaining open roles across the company.

Source: Robinhood Comms

Robinhood estimated it will incur about $28 million in total restructuring-related charges, including roughly $20 million for employee severance and benefits and about $8 million in share-based compensation costs. The company said it expects to recognize these charges in the second quarter of 2026.

Tenev says business “has never been stronger” despite weak Q1 results

Robinhood said it is taking the action “from a position of business strength,” pointing to June month-to-date average daily trading volumes at record levels across equities, options and prediction markets.

Tenev said that the company’s business “has never been stronger,” adding that the workforce reduction is a proactive move aimed at improving execution and focus.

Related: Robinhood enters Canada after $180 million WonderFi acquisition

The announcement did not specifically mention artificial intelligence-driven restructuring, but said the company will continue hiring selectively, invest in top-tier talent and “utilize frontier technologies” to improve performance.

The move comes after first-quarter results missed analyst expectations, with revenue and earnings coming in below forecasts. Crypto trading was a key drag, with volumes down roughly 50% year-on-year, underscoring ongoing volatility in transaction-based revenue streams.

Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Robinhood
• Business
• Companies
• Industry

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