Robinhood: Most company employees will remain remote on permanent

Financial Associated Press (Shanghai, editor Niu Zhanlin) news, the United States brokerage Robinhood Eastern Time said on Wednesday that most of the company's more than 3,400 employees will permanently maintain remote work status, for most employees, there will be no more office location or office requirements.

Robinhood said in a blog post: "Our team has done amazing work and built a strong work community during these uncertain and challenging times, and we are excited to continue to provide our employees with the flexibility they demand to telecommute to work in the most comfortable and productive places possible."

The COVID-19 pandemic has prompted companies from Wall Street to Silicon Valley to rethink the need for offices. While securities firms and banks mostly want employees to return to the office, some tech companies are more flexible.

Robinhood considers itself a tech company, and its latest move is following in the footsteps of tech companies like Coinbase, Okta, and Shopify to fully telecommute. Other big tech giants such as Meta platform and Microsoft have also launched flexible work programs in response to COVID-19.

Robinhood said it is supporting this change by building its technical capabilities. The company has also developed a number of other programs to make collaboration smoother between employees working in the office and at home.

Robinhood's share price has taken a hard hit in recent months and is now down 80% from its highest point. The company went public at $38 when it went public last July and is currently trading at about $17.