Crypto Trading Platform Robinhood to Fire About 9% of Full-Time Employees

Robinhood CEO Vlad Tenev has announced that he will fire about 9% of his full-time employees. Tenev said was prompted by the company's rapid growth in which the number of employees increased nearly sixfold, from 700 to nearly 3,800. This rapid growth has resulted in duplicate roles and jobs, as well as more complex management levels, and the decision to fire employees was made in order to improve efficiency.