Workflow
Opendoor's new chairman wants to slash 85% of ‘bloated' workforce: ‘I don't know what most of them do'

Opendoor’s new chairman Keith Rabois blasted the company as “bloated” on Friday — vowing to cut up to 85% of its employees.“There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois told CNBC’s “Squawk on the Street” on Friday.Rabois — a member of Silicon Valley’s famed “PayPal Mafia” that includes Elon Musk, Peter Thiel and Reid Hoffman — returned to the online real estate company this week after it installed former Shopify executive Kaz Nejatian a ...