Business

Robinhood closes Tempe HQ amid mass layoffs

Stock-trading platform cuts 23% of workforce

Robinhood Markets, the free stock-trading platform that boomed during the height of the COVID-19 pandemic, has closed its Tempe office.

The closure comes after an announcement from Robinhood CEO Vlad Tenev on Aug. 2. He said the company would be reducing its workforce by 23%.

“While employees from all functions will be impacted, the changes are particularly concentrated in our operations, marketing, and program management functions,” Tenev wrote in his blog post.

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