[Robinhood Announces 10% Layoff, Expected to Incur Approximately $28 Million in Restructuring Costs] BlockBeats News, June 16, Robinhood (HOOD) announced on Tuesday that it will lay off about 10% of its full-time employees and simultaneously close the recruitment process for a small number of existing vacant positions. The company expects this round of layoffs to result in approximately $20 million in severance and employee benefits costs, along with about $8 million in stock-based compensation expenses, totaling approximately $28 million in restructuring costs. These costs will be recognized in the second quarter of 2026. Following the announcement, Robinhood's pre-market stock price rose 1.3%. [Original Link]