SoftBank Backed Opendoor LaysOff One-Third of Their Staffs

A San Francisco-based company, Opendoor has laid off around a third of its staffs. The company is basically aimed to assist people in buying and selling homes without any hassle just by pushing a button. The company co-founder and CEO, Eric Wu, has informed that the company has laid off almost 600 of its employees and the number constitutes around 35% of its whole staff.

While all the sectors of the economy are shattered by the deadly blow of the coronavirus pandemic, the residential real estate market is not an exception. Nationwide all the citizens are asked to remain at home, and all but most emergency services are stopped in maximum countries. Despite these facts, no one could imagine those home sales would fall as fast as it did. As the pandemic had an unprecedented impact on public health and other basic activities the companies have experienceda continuous decline in the number of buying and selling.

The CEO of Opendoor claimed that the layoff was necessary to assure the continuous delivery of their mission and build expected consumer experience.

It’s now totally indistinct to what scale the present market will impact that number going up. Given the scale of setback, it’s also not apprehensible whether, when the economy starts to re-install, Opendoor will continue its operation in all the 21 cities where its services are presently available.

Now, Opendoor has stopped offering cash offers on homes. It statesthat it will continue to work with other third-party buyers who may provide home sellers with cash offers, and connectconsumers with listing agents if they are needed.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

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