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The subtext of Robinhood's layoff memo: It's not us, it's you
Robinhood has a message for workers losing their jobs: The company isn't struggling. You are.
That's the crux of Tuesday's layoff memo from the CEO of the trading platform. It's the latest example of a high-profile company trimming head count while simultaneously saying it's doing well.
"Robinhood's business has never been stronger," wrote Vlad Tenev while announcing plans to reduce 10% of the company's workforce. Robinhood had 2,900 full-time employees at the end of 2025, according to a February securities filing.
Tenev didn't explicitly call the "Robinhoodies" being let go low performers, as Meta CEO Mark Zuckerberg did of staff booted from his Facebook parent last year. Tenev did, though, draw a clear contrast between the workforce Robinhood is shedding and the one it wants to keep.
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Robinhood’s note on 10% layoffs shows blaming AI isn’t cutting it
It appears using AI as a cover story for cutting jobs is fast falling out of fashion.
Unlike many of his tech industry peers who have cut thousands of jobs this year citing the need to restructure their teams to make the most of AI, Robinhood’s CEO Vlad Tenev conspicuously made no mention of AI in his note to employees announcing that the company is letting go 10% of its full-time employees, or about 290 people.
Nor did the company’s regulatory filing announcing the move, which instead framed the cuts as a restructuring exercise.
Still, Tenev did say the company would use “frontier technologies to push our execution even further,” which sounds like a conscious effort to avoid even naming AI. Which isn’t surprising: Sentiment against AI and related infrastructure projects has been trending lower even as a small minority of tech executives make ridiculous bank.
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