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Robinhood’s note on 10% layoffs shows blaming AI isn’t cutting it

TechCrunch AI Ram Iyer June 16, 2026
Robinhood’s note on 10% layoffs shows blaming AI isn’t cutting it
AI Summary— plain English for professionals

# Robinhood's CEO Avoids the AI Excuse for Job Cuts Robinhood just laid off 10% of its workforce, but unlike other tech companies that blame artificial intelligence for needing fewer employees, the CEO didn't mention AI at all in explaining the decision. This stands out because it suggests the company may have had different reasons—like cutting costs or refocusing the business—rather than jumping on the popular trend of using AI as a justification for layoffs.

Unlike many of his tech industry peers who have cut thousands of jobs citing the need to restructure to make the most of AI, Robinhood's CEO Vlad Tenev conspicuously made no mention of AI in his note about layoffs.

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