Online trading

Online trading platform Robinhood plans to permanently shift most employees to remote work

Online trading platform Robinhood Markets Inc said on Wednesday it plans to move the majority of its 3,400 employees to permanent remote work, joining a slew of high-tech companies embracing a hybrid culture. .

The California-based company’s decision to take a “remote-first” approach, plans for which were first shared with employees in December, will help create an accessible workplace, it said. she said in a statement.

“Being able to go primarily remote really means that we can now recruit and attract talent from almost anywhere,” said Cynthia Owyoung, vice president of equity, inclusion and belonging at Robinhood.

Robinhood said some teams will need to live within commutable distance of an office for regulatory and business reasons, and a small segment will still need to work from the office. He does not expect any change in the remuneration structure of his staff.

Tech giants such as Twitter Inc, Meta Platforms Inc and Microsoft Corp opted for flexible work policies early on in the COVID-19 pandemic.

Uncertainty around the fast-spreading variant of the Omicron coronavirus has also caused several major US companies, including JPMorgan and Goldman Sachs, to delay plans to return to the office.

Founded in 2013, Robinhood skyrocketed in popularity among retail investors at the start of the pandemic due to its easy-to-use interface and commission-free trading.

It also helped fuel last year’s “meme” trading frenzy, though technical glitches and a temporary restriction on trading in GameStop Corp securities in January 2021 embittered some of its users.

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