Opendoor Technologies layoffs, on the record
Every job cut, severance charge and restructuring Opendoor Technologies reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 1,982 to 1,042.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 1,982 | December 31, 2023 |
| 10-K for 2024 | 1,470 | December 31, 2024 |
| 10-K for 2025 | 1,042 | As of December 31, 2025 |
Job cuts, severance and restructuring
Our summaryIn Q4 2023 the company carried out two workforce reductions affecting 120 employees, about 6% of its workforce at that time.
Word for word“In the fourth quarter of 2023, the Company initiated two workforce reductions, impacting 120 employees, representing approximately 6 % of the Company’s workforce at that time.” 10-K for 2023
Our summaryThe company expected severance and termination benefits for the Q4 2023 reductions to total about $4 million, with $1 million paid by year end 2023.
Word for word“The Company will provide severance and other termination benefits (“Post-Employment Benefits”) to impacted employees for an expected total expense of approximately $ 4 million, of which $ 1 million was paid out through December 31, 2023.” 10-K for 2023
Our summaryOn April 18, 2023, the company announced a workforce reduction of about 560 employees, about 22% of its workforce, mainly in volume-based roles.
Word for word“On April 18, 2023, the Company announced a workforce reduction of approximately 560 employees, representing approximately 22 % of the Company’s workforce at that time and primarily impacting volume-based roles.” 10-K for 2023
Our summaryRestructuring expense in 2022 rose by $17 million over 2021, covering severance and other termination benefits for eliminated roles and wind-down costs for mortgage lending and brokerage.
Word for word“Restructuring increased by $17 million for the year ended December 31, 2022 compared to the year ended December 31, 2021.” 10-K for 2023
Our summaryCompany implemented a reduction in force affecting about 17% of its employees, announced November 7, 2024, as a reorganization.
Word for word“On November 7, 2024, the Company announced a workforce reduction of approximately 300 employees, representing 17 % of its workforce at that time as part of a reorganization aimed at prioritizing strategic growth and driving long-term efficiencies ("2024 Restructuring").” 10-K for 2024
Our summaryCompany initiated workforce reductions in 2023 affecting about 680 employees, with severance and termination benefits.
Word for word“In 2023, the Company initiated workforce reductions, impacting approximately 680 employees.” 10-K for 2024
Our summaryCompany deconsolidated its subsidiary Mainstay Labs Inc., in which it retains less than 50% ownership, which is listed among its restructuring and cost reduction activities.
Word for word“For example, in November 2024, we implemented a reduction in force affecting approximately 17% of our employees, and in July 2024, we deconsolidated our subsidiary, Mainstay Labs Inc., in which we retain less than 50% ownership on a fully diluted basis.” 10-K for 2024
Our summaryCompany terminated certain non-cancelable leases during restructuring, paying early termination fees.
Word for word“The Company paid $ 4 million in early termination fees associated with these leases and recognized $ 3 million in total lease termination costs which are recognized in Restructuring on the consolidated statements of operations.” 10-K for 2024
Our summaryCompany recorded restructuring expense for 2022 workforce reductions, with severance and termination costs.
Word for word“Payments related to this workforce reduction were substantially completed as of December 31, 2022.” 10-K for 2024
Our summaryThe company explained that its 2024 restructuring expense rose because of the reduction in force announced in November 2024, plus lease terminations and consulting fees.
Word for word“The increase was attributable to the Company’s reduction in force announced on November 7, 2024 as well as the termination of certain non-cancelable leases and consulting fees incurred during the restructuring process.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2020-12-31 | $29 million | — |
| 2021-12-31 | $0 | — |
| 2022-12-31 | $17 million | $13 million |
| 2023-12-31 | $14 million | $15 million |
| 2024-12-31 | $17 million | $13 million |
| 2025-12-31 | $10 million | $16 million |
Opendoor Technologies has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Opendoor Technologies’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-19. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.