The cuts, revealed in a letter to shareholders accompanying the company’s latest quarterly earnings report Thursday, are part of a larger restructuring directed at “prioritizing strategic growth initiatives, flattening reporting structures, and driving efficiencies,” according to CEO Carrie Wheeler.
This round of layoffs is the latest in a series of workforce reductions for the company, which previously cut 550 jobs in November 2022 and 550 more in June 2023.
Despite these efforts, Opendoor continues to struggle with profitability. For the first nine months of 2024, the company reported a $78 million loss.
This round of layoffs is the latest in a series of workforce reductions for the company, which previously cut 550 jobs in November 2022 and 550 more in June 2023.
Despite these efforts, Opendoor continues to struggle with profitability. For the first nine months of 2024, the company reported a $78 million loss.
No comments:
Post a Comment