#Robinhood $ Announces 10% Workforce Reduction Amid Revenue Drop

Robinhood has announced plans to cut 10% of its full-time staff and pause hiring for open roles after reporting a 34% quarter-over-quarter decline in crypto trading revenue, which fell to $134 million. Despite the layoffs, CEO Vlad Tenev said the company’s business “has never been stronger.”

What do you think? is it right or wrong decision?