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Robinhood to permanently shift most employees to remote working -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Robinhood Markets, Inc.’s logo is displayed at a Wall Street pop-up after its IPO, New York City, U.S.A, July 29, 2021. REUTERS/Andrew Kelly

Mehnaz Yasmin & Niket Nishant

(Reuters) – Online trading platform Robinhood Markets Inc (NASDAQ:) stated Wednesday that the company plans to permanently move most of its 3,400 workers to remote work. It joins other high-tech companies who embrace a hybrid culture.

It stated that the California-based firm’s decision to use a remote first approach (the plans were shared first with employees in December) will create an accessible workplace.

Robinhood vice president for equity, inclusion, and belonging Cynthia Owyoung said, “It means we are able to travel primarily remotely.”

Robinhood stated that some team members will have to be commutable to the office for regulatory or business reasons. A small portion of employees will also need to travel to and from work. The company expects that there will be no changes in its compensation structure.

Technology giants like Twitter Inc (NYSE:), Meta Platforms Inc Microsoft Corp (NASDAQ:) Early on in the COVID-19 pandemic, a flexible work policy was adopted by COVID-19.

Uncertainty surrounding the rapidly-spreading Omicron Coronavirus variant led several large U.S. businesses, such as JPMorgan (NYSE 🙂 and Goldman Sachs(NYSE :), to postpone their back-office plans.

Robinhood was founded in 2013 and quickly gained popularity among retail investors due to its simple-to-use interface, commission-free trading, and easy-to use trades. It helped fuel last year’s “meme” stock panic, despite technical problems and a temporary ban on trading securities. GameStop Corp (NYSE: ) In January 2021, some users of the company were embittered.

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