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Blake Douglas

Robinhood's new round of layoffs leads to closing of Charlotte office amid company restructuring

Robinhood Charlotte Observer

CHARLOTTE, N.C. — Stock trading app company Robinhood confirmed Wednesday it is closing its Charlotte office amid a new round of companywide layoffs.

Robinhood CEO Vlad Teven announced the companywide layoffs in a Tuesday blog post. High inflation and a recent cryptocurrency crash forced the layoffs at the online trading platform company, Teven wrote.

The company is reducing its employment by about 23%, Teven wrote. Based on previously reported employment numbers, that’s about 795 workers.

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