Robinhood Announces Layoffs After Hypergrowth Period

There is no information about how the layoffs are distributed among various departments and among different seniority groups. I would imagine that the "employees who worked so hard to help grow the company" would be identified and retained. Newly hired employees with fewer contributions under them would be laid off.

If anyone here knows, I'd also be curious to ask how much it contractually costs a company like Robinhood to layoff a recently hired employee.