February 21, 2024

Robinhood Engineering Rises, Leaked Audio Reveals More Layoffs

  • Robinhood’s head of engineering Surabhi Gupta is leaving the company, Insider has learned.
  • Robinhood laid off 150 full-time employees last month but leaked meeting audio shows more widespread reductions.
  • The company has also made cuts through “reorgs,” among teams such as recruiting, engineering and data science.

Robinhood’s head of engineering is leaving the company, Insider has learned, the latest tech leader to depart amid deeper-than-reported cuts to its workforce, according to internal memos and audio from an all-hands meeting.

Surabhi Gupta, senior vice president of engineering since May 2022, announced her departure on Wednesday. After Gupta’s departure, other technology leaders like Jesper Johansson, head of security and IT technology, said a person familiar with the matter. Johansson He confirmed his departure via LinkedIn.

“Our GM structure has increased accountability and efficiency and we are continuing to pursue that design,” said a Robinhood spokesperson. “We have a strong leadership team and we are confident in our work plan. We thank Surabhi for her contribution to the engineering organization and wish her the best in her next chapter.”

Robinhood laid off 150 full-time employees in three organizations last month, according to an internal memo seen by Insider: customer experience and shared platform services, customer trust and safety, and safety and productivity. The layoff has been widely reported, but all handsets reviewed by Insider have continued to have deeper audio cuts.

“We’re seeing more and more hoods being quietly laid off because of the elimination of their jobs,” asked one employee at the meeting, which took place before the 150 layoffs. “Could we get some transparency here? How many hoods have been eliminated, how many more there will be and how much longer this will go on.”

Jason Warnick, the company’s chief financial officer who took on the role of chief people officer, revealed that the company has made cuts through “changes”, including teams such as recruiting, engineering and data science.

“I think this is an important reminder for us that as we build and grow our teams, we do it with an eye toward running lean and operating efficiently because the more accountable we grow the less we have to do periodically to adjust the size or structure of the team,” said Warnick.

The layoffs left Robinhood with a security team less than half of what it was in November 2021, when a data breach exposed the data of 7 million customers, a person familiar with the size of the team said. A Robinhood spokesperson disputed this statement but did not provide information on the size of the team.

Are you an employee in the tech industry or have an insight to share? Contact reporter Ashley Stewart via the encrypted messaging app Signal (+1-425-344-8242) or email (astewart@insider.com).

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