Opendoor cuts 22% of staff

Opendoor announced a cut of 560 employees, about 22% of its staff, in mid-April. It had already cut 550 employees in November. The pioneer iBuyer is attempting to find its footing as it works to reorient its company around a new marketplace initiative and leans into its Exclusives strategy, in which it lists homes it owns on its site first before listing in the MLS.