Robinhood Markets, Inc. (NASDAQ: HOOD) announced a reduction in force affecting approximately 10% of its full-time employees, according to a company statement dated June 16, 2026.

The layoffs also include the closure of a number of open roles across the company. Robinhood estimates it will incur approximately $20 million in cash restructuring charges related to employee severance and benefits, along with approximately $8 million in share-based compensation costs. The company expects to recognize the accrual for these charges in the second quarter of 2026.

The company noted that June month-to-date average daily trading volumes have reached record levels across equities, options, and prediction markets.

Robinhood said it may file an amendment to its Current Report on Form 8-K if additional material restructuring costs arise or if the amounts disclosed differ materially from actual figures.