Robinhood lays off 23 percent of its staff, citing inflation ...Middle East

Financial services company Robinhood announced Tuesday it would be laying off 23 percent of its staff, citing inflation as one of the reasons for the move.  CEO and co-founder Vlad Tenev said in a message to all employees that the company would be reorganizing into a general manager structure, which would affect all roles but particularly operations, marketing and program management functions. The reorganization “will flatten hierarchies, reduce cross-functional dependencies, and remove redundant roles and positions,” while around 23 percent of roles will get cut. The statement cited inflation and the crypto market crash as two of the major reasons for the job cuts, as those issu

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