Svmuu News: According to a Reuters report, U.S. online trading platform Robinhood announced that it will lay off approximately 10% of its full-time employees and close the company’s remaining few open positions. The company expects this restructuring to result in approximately $20 million in restructuring charges, primarily for employee severance and benefits, as well as approximately $8 million in stock-based compensation expenses. These expenses are expected to be recognized in the second quarter. Following the announcement, Robinhood’s stock price rose 1.3% in premarket trading.