Keith Rabois, the newly appointed chairman of Opendoor Technologies Inc. (NASDAQ: OPEN), has revealed plans to dramatically reduce the company's workforce and revamp its organizational culture. Rabois aims to cut down Opendoor's staff significantly due to concerns about overstaffing, stating that out of the current 1,400 employees, only around 200 are necessary for the company's operations. He emphasized the necessity of aligning the workforce with the company's operational objectives. In addition to addressing workforce size, Rabois criticized Opendoor's workplace culture, specifically highlighting issues related to remote work and diversity, equity, and inclusion (DEI) initiatives. He proposed a shift back to a culture emphasizing "merit and excellence." This move signals a significant change in direction for the company under Rabois' leadership as chairman.