Story perspectives

Opendoor Cuts Workforce Amid Remote Work Critique

9/14/2025

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Summary

Story summary

Keith Rabois, chairman of Opendoor, indicated plans to reduce the workforce from 1,400 to about 200 employees, citing issues with remote work and diversity initiatives.
He stressed the importance of returning to in-person work and merit-based practices.
Opendoor's stock has risen 470% this year, driven by retail investor interest.
Kaz Nejatian has been appointed CEO after Carrie Wheeler's departure.
Rabois's remarks align with a trend among tech leaders critiquing remote work and DEI efforts.

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Story summary

Keith Rabois, chairman of Opendoor, indicated plans to reduce the workforce from 1,400 to about 200 employees, citing issues with remote work and diversity initiatives.
He stressed the importance of returning to in-person work and merit-based practices.
Opendoor's stock has risen 470% this year, driven by retail investor interest.
Kaz Nejatian has been appointed CEO after Carrie Wheeler's departure.
Rabois's remarks align with a trend among tech leaders critiquing remote work and DEI efforts.