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Opendoor's board chair suggests firing 1,200 employees
Opendoor's board chair, Keith Rabois, just suggested that only 200 out of 1,400 employees are really needed now, thanks to the advent of AI and other technologies.
He shared this bold idea on CNBC, right as Opendoor's stock has jumped an impressive 500% in 2025.
Opendoor's stock took off this year
Opendoor's stock took off this year after retail investors and online buzz—though some call it a "meme stock."
The company also swapped CEOs: Kaz Nejatian stepped in after investor pressure pushed Carrie Wheeler out.
Still, the excitement cooled a bit when shares dropped 13% soon after.