opendoor
Opendoor board chair Rabois says company is ‘bloated,’ needs to cut 85% of workforce
Keith Rabois, Opendoor’s new chairman, said the company he co-founded needs to slash its workforce as much as 85% to fix its cost structure. Rabois returned to Opendoor this week, when the company named former Shopify executive Kaz Nejatian as …
Opendoor stock crashes 43% after meme rally fizzles, exposing deep losses and fragile fundamentals
Opendoor just gave back nearly half its value in 24 hours. The stock hit $4.97 during Tuesday’s meme-driven spike. It’s now trading under $2.80. That’s a 43% drawdown. Volume exploded past 38 million shares. RSI collapsed from 71 to 39. …
Opendoor lays off 300 more workers as losses mount, valuation plummets.
Opendoor, a San Francisco-based real estate tech company, announced on November 8, 2024, the layoff of 300 workers. This follows previous rounds of job cuts: 550 in November 2022 and 560 in April 2023. The company is struggling to stay …