According to a CNBC report, Rabois has pledged to reduce the firm’s workforce, criticizing the current team as bloated and disconnected from the company’s original mission.
Opendoor Technologies Inc. (OPEN) co-founder and newly appointed board chairman Keith Rabois has reportedly pledged to reduce the firm’s workforce, describing the current team as bloated and disconnected from the company’s original mission.
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“There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois said, according to a CNBC report.
Opendoor Technologies’ stock traded over 12% lower on Friday afternoon.
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