fintech Fintech Sector Faces Ongoing Wave of Significant Job Cuts Major fintech companies like Stripe, Chime, and Opendoor continue to slash their workforces in response to challenging macroeconomic conditions and shifting market demands.
opendoor Opendoor Cuts 18% of Staff Amid Broad Housing Market Downturn Real estate tech company Opendoor lays off nearly a fifth of its workforce as the housing market cools rapidly. The cutbacks reflect a wider trend of downsizing across the property technology sector.
opendoor Opendoor Cuts 18% of Workforce Amid Historic Real Estate Slump Opendoor lays off 550 employees as skyrocketing mortgage rates and inflation severely reduce housing demand. The proptech firm's stock plummets from previous highs as it navigates what its CEO calls the toughest market in 40 years.
meta Meta Moves On Without COO as Sandberg Exits After 14 Years Sheryl Sandberg officially steps down as Meta's COO after 14 years, and Mark Zuckerberg does not plan to replace her. Meanwhile, Opendoor faces a massive FTC fine and Shopify invests heavily in Klaviyo.
opendoor Opendoor Pays $62 Million to Settle FTC False Advertising Charges The Federal Trade Commission fines Opendoor $62 million over deceptive claims that its iBuying platform helps sellers make more money than the traditional market. The settlement delivers a significant blow to the broader iBuying industry.
compass Softbank-Backed Compass Lays Off 15% of Staff Amid Real Estate Downturn Real estate startup Compass cuts 15% of its workforce and scales back its concierge business as the coronavirus pandemic causes a massive drop in home showings and revenue.