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The submit Robinhood Layoffs 7% of Full-Time Workers appeared first on Coinpedia Fintech Information
Robinhood Markets, an organization primarily based in Menlo Park, is decreasing its full-time workforce by 7% on account of a decline in its buyer base. The corporate plans to implement adjustments primarily based on components reminiscent of quantity and workload. In an effort to deal with weaknesses in its buying and selling unit, Robinhood lately acquired monetary know-how agency X1 for $95 million in money. The corporate goals to enhance price administration and create new sources of income. Within the newest quarter, Robinhood exceeded income expectations, which might be attributed to the Federal Reserve’s speedy price hikes in the US.
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