The retail brokerage firm is cutting staffing levels after big growth in 2021.
Highlights
- Retail brokerage firm Robinhood is cutting back staffing levels.
- The move will affect about 9% of full-time employees.
- CEO Vlad Tenev made the announcement in a blog post on Tuesday afternoon.
- Shares fell more than 5% in extended trading.
- The retail brokerage firm is cutting staffing levels after big growth in 2021.