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

Robinhood Markets is cutting about 23% of its full-time workforce as the flashy online broker continues to reel from a sharp decline in client trading activity.

The job cuts mark the second round of layoffs this year at Robinhood, which in April reduced its staff by about 9%. Together, the two rounds have cut more than 1,000 positions from the company.