Robinhood’s Sherwood Media Cuts Jobs in Strategic Shift to Breaking Market News
Staff Editor Robinhood’s Media Arm Sherwood Announces Layoffs Amid Industry-Wide Restructuring
Sherwood, the media subsidiary of financial services company Robinhood, has recently implemented staff layoffs as part of a strategic restructuring effort. This move aligns with a broader trend of workforce reductions across the media industry, which has affected major outlets such as NBC News, CNN, TechCrunch, and Vox.
A Robinhood spokesperson confirmed the layoffs, stating they were part of an initiative to streamline team structure in accordance with the company’s 2025 strategy. While the exact number of affected employees was not disclosed, it was described as a small percentage of Sherwood’s workforce.
The restructuring at Sherwood involves a shift in focus towards expanding operations related to timely, breaking markets news. This strategic pivot is part of a larger plan to build and grow the media arm through 2025.
Launched in 2023 as an independent subsidiary of Robinhood, Sherwood is led by Joshua Topolsky, a veteran journalist and entrepreneur who serves as editor-in-chief and president. Since its inception, the media outlet has hired dozens of journalists and launched new products, including the acquisition of Chartr, a data-driven newsletter publisher known for visual storytelling, in 2023.
Sherwood’s editorial content primarily covers markets, technology, and the “culture of money.” The website also features a section for Snacks, a popular newsletter acquired by Robinhood in 2019.
At its launch in April 2024, Sherwood employed approximately three dozen staff members, including experienced journalists from major publications. The recent layoffs at Sherwood reflect the challenging landscape faced by media companies, as the industry continues to grapple with economic pressures and shifting consumer habits.
As Sherwood navigates this restructuring, the media arm aims to position itself for future growth while adapting to the evolving needs of its audience and the broader financial news landscape.
