Robinhood is planning to cut jobs despite its CEO, Vlad Tenev, saying the company’s business is strong. According to NDTV and Cointelegraph, Robinhood announces it will lay off 290 employees, which corresponds to roughly 10% of its workforce. Tenev is quoted as telling employees and the public that “business has never been stronger,” even as the company’s recent performance remains under scrutiny. Cointelegraph notes that the CEO’s remarks come despite weak first-quarter trading results. The reports describe the layoffs as part of the company’s effort to adjust operations, but they do not provide additional details about the specific business targets, timing beyond the announcement, or any severance terms. Overall, the coverage centers on the contrast between Tenev’s assessment of company strength and the workforce reduction figure disclosed alongside that message.