Robinhood to reduce staff by 23%

Robinhood Market is cutting about 23% of its staff as the flashy online brokerage continues to suffer as client trading activity slows markedly.

The job cuts mark the second round of layoffs this year at Robinhood, which in April laid off about 9% of its full-time employees. Together, the two waves have cut more than 1,000 company jobs.

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