Online US real estate firm Opendoor cuts 22% of workforce

Discussion in 'Current Events' started by sec, Apr 19, 2023.

  1. sec

    sec Well-Known Member

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    https://www.reuters.com/business/online-us-real-estate-firm-opendoor-cuts-22-workforce-2023-04-18/

    HYPERLINK has full article

    snip

    April 18 (Reuters) - Opendoor Technologies Inc (OPEN.O) on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing market.

    The announcement followed a previous round of layoffs in November when the San Francisco company cut 550 jobs, or about 18% of its workforce at the time.


    end snip

    hmm, 2 rounds of layoffs since November. That is not a sign of a strong economy
     

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