SF-based Opendoor to cut 300 jobs ...Middle East

KRON4 - News
SF-based Opendoor to cut 300 jobs
source : KRON4 ( Middle East ) () 52
SAN FRANCISCO (KRON) -- As the latest round of Bay Area tech layoffs continue, a San Francisco-based real estate tech company announced Thursday it would be cutting 17% of its workforce, just a few weeks before the holidays. Opendoor, which maintains its headquarters on Post Street near Market, announced the layoffs in a letter to shareholders. The reduction will see the company cut around 300 jobs and, according to the letter, is "part of a reorganization aimed at prioritizing strategic growth initiatives, flattening reporting structures, and driving efficiencies." Long-awaited Hello Kitty store returns to the Bay Area The company said it expects to save about $50 million

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