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Opendoor chair says the company currently has 1,400 employees but only needs 200 of them
Business Insider· 2025-09-13 00:47
Core Insights - Opendoor Technologies is facing significant operational inefficiencies, with cofounder Keith Rabois stating that the company is "bloated" and could reduce its workforce from 1,400 employees to around 200 [1][2] - The company has recently gained attention as a meme stock, with its stock price increasing by 470% year-to-date following the announcement of leadership changes [1] - Rabois criticized the company's culture, particularly regarding remote work and diversity, equity, and inclusion (DEI) initiatives, indicating a shift back to a focus on merit and excellence [2][7] Company Overview - Opendoor Technologies specializes in buying and selling homes, and it has recently seen a surge in stock performance, attributed to the rejoining of cofounders Rabois and Eric Wu on the board and the appointment of Kaz Nejatian as CEO [1] - The company currently employs 1,400 individuals, but Rabois believes that the majority of these positions are unnecessary, suggesting a drastic reduction in workforce [1] Cultural and Operational Changes - Rabois described the company's culture as "broken," emphasizing the ineffectiveness of remote work and the need to move away from DEI-focused initiatives [2][7] - The shift in focus will prioritize merit and excellence, indicating a potential restructuring of company values and operational strategies [2]
X @Forbes
Forbes· 2025-09-12 02:53
Working remotely is a priority for some professionals, especially in the wake of the pandemic. But can you imagine what it would be like if you could combine remote work with a four-day work week, instead of the traditional Monday to Friday structure? https://t.co/ejorW68ne7 https://t.co/lD6sKAenPJ ...
X @Bloomberg
Bloomberg· 2025-09-10 22:08
A half-decade after Covid-19 sparked a debate about remote work, real estate giant Brookfield has declared that employees are back at their desks https://t.co/PvDUOZR2xs ...