Opendoor Headcount Falls About 25% From September As AI Pivot Accelerates
Synopsis
Opendoor is pivoting towards AI-based products and services. It had laid off workers in each of the last three years.
- Opendoor reported Q4 revenue above market expectations last week, boosting its shares.
- CEO Kaz Nejatian discusses the company’s push into mortgages in a Stocktwits Interview.
- Stocktwits sentiment for OPEN has remained ‘extremely bullish’ since Wednesday.
Opendoor Technologies, Inc. appears to have quietly laid off nearly 400 workers in the past few months.
The company had 1,042 staff as of the end of December, according to the company’s latest annual report filed last week. In September, Keith Rabois — the co-founder of Opendoor Technologies who had just returned as board chair — said the company had about 1,400 employees and signaled the need to streamline its headcount.
Q4 Results, CEO Interview
Opendoor reported fourth-quarter revenue significantly higher than analysts’ expectations last week, providing a much-needed lift to its shares. CEO Kaz Nehatian later spoke to Stocktwits for a video interview, where he discussed the company’s push in mortgages and U.S. interest rate expectations.
Investors are also upbeat about U.S. homebuilder Lennar Corp. acquiring a stake in the company, and SRx Health Solutions increasing its shareholding.
The layoffs come at a time when Opendoor is pivoting towards AI-based services and products, and measures to arrest the fall in its stock. Opendoor shot to the top of retail investors’ radar after a meme-stock-style rally late last year; shares are now nearly 50% below their September peak.
Past Layoffs
To be sure, Opendoor claims that it laid off only 125 workers last year, according to its annual report. The company does not disclose the workforce figure in its quarterly reports, and the exact number of affected workers could not be determined.
Opendoor layoffs as per the company's annual report:
2023: 680
2024: 300
2025: 125
On Stocktwits, retail sentiment for OPEN has remained ‘extremely bullish,’ unchanged from last Wednesday.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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