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Robinhood Goes Full Remote

The online trading platform will let its employees to remote work permanently, at a time when some big banks are asking their workforce to come back to the office.

Online trading platform Robinhood  (HOOD) - Get Robinhood Markets, Inc. Class A Report on Wednesday said it will be staying "primarily remote" at a time when there is a hot debate in the business world about the best work model following the pandemic.

Robinhood said this means its employees will have the flexibility they need to work where they are most comfortable and productive.

"For a large segment of our employees, there will be no location or regular in-office requirement, and teams will come together in-person occasionally for key experiences and moments," the company said in a blog post.

The Menlo Park, Calif., company, which went public in August last year, added that some teams will need to live within a commutable distance to an office location due to regulatory and business reasons, and a small segment will still need to come into the office.

To be sure, all Robinhood employees will have access to physical offices located across the country, the company clarified.

"We’re looking at new technology to make the process of working with others across remote and in-office spaces easier and more inclusive," it added.

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Investors today can easily trade without direct contact with a licensed broker thanks to a few clicks on apps like Robinhood.

In May 2020, social media company Twitter  (TWTR) - Get Twitter, Inc. Report announced that its employees can work from home and/or remote for as long as they want in response to the coronavirus pandemic.

Twitter's shift to a permanent remote-work policy was a two-year project, accelerated by the pandemic amid lockdowns.

At present, the new omicron variant surge is pushing return to office plans for companies across the U.S. into disarray.

On Tuesday, Facebook parent Meta  (FB) - Get Meta Platforms Inc. Class A Report delayed its return to the office till March due to increased risk from the fast spreading omicron variant of coronavirus.

iPhone giant Apple  (AAPL) - Get Apple Inc. Report told employees last month that it did not have a new return date set for staff to be back in the office amid the omicron surge. Apple had previously planned for most employees to return to in-person work on Feb. 1.

Last week, banking giant Citigroup  (C) - Get Citigroup Inc. Report told its staff that unvaccinated employees have until Jan. 14 to begin the vaccination procedure before they will be put on unpaid leave.