May 26, 2024


A really bad day at a once-rising Silicon Valley startup just got a whole lot worse for several (now former) employees.

Robin Hood (Hood) – Get the Robinhood Markets Inc. reportthe struggling brokerage that caught the attention of Gen Z investors can’t break even and is laying off 23% of its employees.

Things started with the company announcing that it had been fined several million dollars. Ironically, the problem had to do with understaffing in one of its key areas.

CEO Vlad Tenev said the majority of the layoffs would occur for people working in the business, marketing and program management departments, according to suspension.


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