Robinhood lays off 23% of staff as retail investors move off platform

Robinhood Markets is cutting about 23% of its full-time staff as the flashy online brokerage continues to falter amid a sharp slowdown in client trading activity.

The job loss marks the second round of layoffs this year at Robinhood, which cut its workforce by about 9% in April. Together, the two rounds have cut more than 1,000 jobs at the company.

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