Robinhood Lays Off 23% of Staff as Retail Investors Fade from Platform

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Robinhood Markets is slashing about 23% of its full-time staff as the flashy online brokerage continues to reel from a sharp slowdown in customer trading activity.

The job cuts mark the second round of layoffs this year at Robinhood, which in April

reduced its staff by about 9%. Together, the two rounds have cut more than 1,000 jobs from the company.