Overview

• Rabois told CNBC the company has about 1,400 employees but could operate with roughly 200, describing Opendoor as completely bloated.
• He criticized remote work and DEI efforts as signs of a broken culture and said the company will return to in‑person work focused on merit and excellence.
• He argued that AI and other technologies make large headcount reductions a simple problem to solve.
• Opendoor recently named former Shopify executive Kaz Nejatian as CEO and brought cofounders Keith Rabois and Eric Wu back to the board, following investor pressure that preceded Carrie Wheeler’s exit.
• Shares have surged roughly 470%–500% year to date with meme‑stock style volatility, and the company has not detailed a formal layoff plan following Rabois’s remarks.