Robinhood is laying off around 7% of staff, WSJ reports

Stock-trading app Robinhood Markets Inc.

is laying off around 7% of its full-time staff, or around 150 people, the Wall Street Journal reported on Monday. Chief Financial Officer Jason Warnick, in a message seen by the Journal, said the cuts were intended to “adjust to volumes and to better align team structures.” The Journal noted that the round of cuts was Robinhood’s third in roughly a year, as trading activity on the platform cools.

is laying off around 7% of its full-time staff, or around 150 people, the Wall Street Journal reported on Monday. Chief Financial Officer Jason Warnick, in a message seen by the Journal, said the cuts were intended to “adjust to volumes and to better align team structures.” The Journal noted that the round of cuts was Robinhood’s third in roughly a year, as trading activity on the platform cools.

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