APRIL 19, 2023 — 560 EMPLOYEES IN THE SECOND ROUND OF LAYOFFS
The company has announced a second round of layoffs impacting 22% of its workforce, or 56o employees, mostly in the operations unit.
According to a company spokesperson, “We’re taking these actions now to better align our operational costs with the anticipated near-term market opportunity.”
NOVEMBER 17, 2022 — Original post…
San Franciso, California-based Opendoor Technologies, an online company that flips (buy, repair, sell) residential real estate, has announced a reduction in force to compensate for disruptions in the real estate market and increasing interest rates.
The personnel realignment will impact 18% of the workforce or approximately 550 employees
According to CEO Eric Wu, “The reality is, we’re navigating one of the most challenging real estate markets in 40 years and need to adjust our business. To manage the turbulence in the market, we’ve worked quickly over the last two quarters to reduce our operating expenses. We did not make the decision to downsize the team today lightly. The company sought to cut millions of fixed expenses earlier this year as it navigated the market’s shift.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?