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Millennials’ beloved brokerage app is expanding in all sorts of ways: Geographically. Temporally. By measure of tradeable cryptocurrencies. In one way of particular import to about 350 people, however, it is not.

Retail brokerage firm Robinhood is cutting back staffing levels, citing “duplicate roles and job functions” after rapid expansion last year…. The move will affect about 9% of full-time employees. Robinhood reported 3,800 full-time employees as of Dec. 31….

Going forward, the company will review employee growth plans and “continue to prioritize internal opportunities for automation and operational efficiency,” [CEO Vlad] Tenev wrote.

Robinhood cutting about 9% of full-time employees [CNBC]
Robinhood’s Crypto Push Goes International. The U.K. Is the First Stop. [Barron’s]

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