Just saw this. Feel bad for people that switched to Robinhood and are a part of this. It's really remarkable how leadership managed to fumble the IPO, public relations, and other decisions. Hopefully people bounce back
Say what you will about the company, that’s one of the better-handled “we’re letting people go” emails I’ve seen
CEO is out of his depth
Who should replace him? The other co-founder Baiju "Bad Bhatia" Bhatia?
Why?
You guys need to get acquired.
Current market cap is 8b, who would buy them at that valuation?
Vlad disabled the Hire button
Bad Vlad
Firing over slack is the way now?
Reading the letter it sounds like it was read verbatim in a virtual meeting and an email and Slack message would go out at the end telling all employees their status. Seems like a very reasonable way to do a mass layoff.
So this is to tell them their last day is oct 1?
Search up WARN.
“Departing Robinhoodies will be offered the opportunity to remain employed with Robinhood through October 1, 2022”
That’s courtesy WARN Act not some corporate generosity.
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the changes are particularly concentrated in our operations, marketing, and program management functions. Is tech next inline?
😰
So PM roles are cut before SWE’s?