The announcement followed a previous round of layoffs in November when the San Francisco company cut 550 jobs, or about 18% of its workforce at the time.

"We're taking these actions now to better align our operational costs with the anticipated near-term market opportunity," the company said in an email confirming the layoffs. Opendoor said new listings have fallen by around 30% from their peak in 2022 due in part to higher mortgage interest rates.

Shares of Opendoor, which as of Monday were up nearly 60% this year, fell more than 5% to $1.66 in mid-afternoon trading.

Most of the job cuts announced on Tuesday were in the company's operations unit.