Stock Groups

Robinhood says it will offer permanent remote working to most employees

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Vlad Tenev is the co-founder of Robinhood and the CEO. He rings the opening bell for the Nasdaq in 2021 on July 29, 2021.

Source: The Nasdaq

Robinhood announced Wednesday that it will allow its 3,400 employees to work remotely via stock trading app Robinhood.

Melo Park is the new headquarters of Robinhood, but there won’t be any requirement for employees to have a location.

Robinhood: “Our teams did amazing work during uncertain times and created a supportive workplace community. We’re thrilled to provide them with the flexibility and freedom they need by remaining primarily remote.” said in a blog post.Robinhood employees were informed of the plans in December.

Robinhood regards itself as a technology company. Its move is in line with tech companies like Coinbase, OktaAnd ShopifyBeing completely remote. Others megacap tech titans include Meta PlatformsAnd MicrosoftAs a response to the pandemic we created flexible programs for employees.

Robinhood’s technological capability is being developed to facilitate this transition, according to the post. It is developing programs to help address some of the barriers work-from-home can pose for groups that are underrepresented.

Robinhood shares have fallen 80% since their high in July. After opening at $38 in July, the stock now trades for $17 per share.

Robinhood’s shares rose slightly on Wednesday

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