Opendoor Board Chair Says Company is 'Bloated,' Needs To Cut 85% of Workforce

Keith Rabois, co-founder and newly minted board chair of Opendoor, said remote work and a "bloated" workforce have been a drag on the online real estate platform's culture, as he vowed to slash headcount. CNBC: "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.

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