Robinhood’s CEO Vlad Tenev announced the company is letting go 10% of its full-time employees without mentioning AI, instead framing the cuts as a restructuring exercise. This move is part of a trend among tech companies to adopt leaner teams and flatter organizational structures, as they aim to improve productivity with AI tools. Despite the layoffs, Robinhood reported a 15% improvement in first-quarter revenue and a strong equity and option-trading volume.