Opendoor’s Bold Restructuring and Crypto Ambitions Drive Market Volatility
08.10.2025 - 10:36:04Leadership Announces Drastic Workforce Reduction
Opendoor Technologies Inc. finds itself at a critical juncture as two major developments from its leadership team trigger significant market reactions and strategic shifts. The company’s shares experienced dramatic price swings following recent announcements, reflecting investor uncertainty about the iBuying platform’s future direction.
Chairman Keith Rabois unveiled aggressive restructuring plans during a September 12 CNBC interview that sent shockwaves through the organization. His stark assessment of the company’s staffing situation revealed unprecedented cuts ahead. “Opendoor currently employs 1,400 people,” Rabois stated bluntly. “I don’t know what most of them do. We need no more than 200 of them.”
This workforce reduction strategy aims to:
– Eliminate approximately 1,190 positions
– Achieve substantial operational cost savings
– Refocus resources on... Read more...