Robinhood disclosed on Tuesday that it’s letting go of 10% of its employees, attempting to streamline operations amid a severe downturn in crypto-related revenue. The company is reducing its headcount alongside efforts to flatten its organizational structure and support “a lean, hyper-focused team,” CEO Vlad Tenev told employees, according to an internal message shared by the retail brokerage on X before the opening bell. “We cannot default to operating as a heavily-layered organization,” he said. “Our execution is strong today, but our ambitions require us to continuously raise our own bar.” When Robinhood disclosed ... (full story)