Opendoor Layoffs
Industry Real Estate · Location SF Bay Area · United States · Subscribe (RSS)
Opendoor has 4 publicly reported layoff rounds on record between April 15, 2020 and November 7, 2024. A total of about 2,010 employees were affected across these rounds.
Layoff history
Opendoor announced a cut of 300 employees, 17% of its workforce, in November 2024 as the iBuyer pursued profitability after years of heavy losses in a difficult housing market. The company said in a shareholder letter that the reorganization was aimed at prioritizing strategic growth initiatives, flattening reporting structures, and driving efficiencies. Management expected the move to generate roughly $50 million in annualized savings, with about $17 million in restructuring charges expected in Q4 2024. Opendoor posted a $78 million net loss in Q3, though losses had narrowed by more than $28 million compared to a year earlier. The November cuts marked the third major reduction since late 2022, following the elimination of 550 jobs in November 2022 and 560 jobs in April 2023, bringing the two-year total to roughly 1,400 positions.
Reason: Restructuring to reach Adjusted Net Income profitability
Source: investor.opendoor.com
Opendoor disclosed a workforce reduction affecting its SF Bay Area operations in April 18, 2023. Approximately 560 roles were eliminated.
Source: inman.com
Opendoor disclosed a workforce reduction affecting its SF Bay Area operations in November 2, 2022. Approximately 550 roles were eliminated.
Source: bloomberg.com
Opendoor disclosed a workforce reduction affecting its SF Bay Area operations in April 15, 2020. Approximately 600 roles were eliminated.
Source: layoffs.fyi
Data for Opendoor is compiled from public WARN Act filings and reporting linked above. See our methodology.