Opendoor

Opendoor lays off 600 people amid declining real estate activity

🌎 San Francisco, Phoenix, Atlanta βˆ™ πŸ‘© 600 employees (35%) βˆ™ πŸ–₯ All departments

Opendoor, which facilitates the buying and selling of residential homes, laid off 35% of its staff yesterday. That amounts to 600 employees, making Opendoor’s layoff the 2nd largest among pre-IPO startups since the coronavirus pandemic (Toast cut 1,300 last week). See below link πŸ‘‡for an opt-in spreadsheet of employees laid off, spanning multiple functions. Opendoor says laid-off employees will receive 8 weeks of pay and 16 weeks of reimbursement for health insurance.

Source: Google Sheets

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