Robinhood's latest move sends its stock lower

Robinhood is firing 10% of its workforce while simultaneously raising $2 billion in debt to fund a $300 million stock buyback. It’s a blatant move to prioritize financial engineering over human capital, borrowing billions to prop up share prices immediately after cutting 290 jobs. If the company is stable enough to repurchase shares, why are the layoffs necessary? Is this a brilliant capital play or a desperate sign of a company in trouble? What’s your take?
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