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Opendoor board chair Rabois says company is 'bloated,' needs to cut 85% of workforce

Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a "bloated" workforce have been a drag on the company's culture, as he vowed to slash headcount."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.The online real-estate platform on Wednesday appointed former Shopify executive Kaz Nejatian as its new CEO after investor pressure caused his predecessor, Ca...

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