UNVERIFIED
Opendoor Technologies Inc. | Layoff Event
November 7, 2025 • 9 days ago
300 affected • 21.4%
Layoff Details
- Reason
- Opendoor Technologies Inc. implemented a workforce reduction of approximately 300 employees, representing 21.4% of its staff, as part of a strategic restructuring and cost-cutting initiative. Led by new CEO Kaz Nejatian, these measures are aimed at returning the company to profitability by the end of 2026. The restructuring includes an end to outside consultant contracts, a refocus on in-office work, and a strategic shift towards becoming a software and AI company, addressing ongoing cash burn and prioritizing strategic growth initiatives.
Company Info
- Industry
- Real Estate Services
- Headquarters
- Tempe, AZ, United States
- Total Employees
- 1,470
- Stock
- OPEN
- Market Cap
- $5.07B
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