Market Chatter: Opendoor Technologies Needs 85% Headcount Reduction, Chairman Says

MT Newswires Live

09/13

Opendoor Technologies (OPEN) has to reduce its headcount by as much as 85%, its co-founder and new chairman Keith Rabois said in an interview with CNBC on Friday.

Rabois said the online real estate platform has 1,400 employees and "I don't know what most of them do. We don't need more than 200 of them," according to the report.

Rabois said company's "culture was broken" due to remote working and a "bloated" workforce.

Opendoor shares were down more than 13% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 9.17, Change: -1.36, Percent Change: -12.88

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Accuracy is not guaranteed.)</p><p>Price: 9.17, Change: -1.36, Percent Change: -12.88</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OPEN","symbol_name":"Opendoor Technologies Inc","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2567903017","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2567903017","pubTimestamp":1757695913,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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