Opendoor, which buys and sells homes, is currently making waves as the latest meme stock beloved by retail traders. The stock got another boost on Thursday when the company announced cofounders Rabois and Eric Wu were rejoining the board and that Kaz Nejatian, COO of Shopify, was appointed CEO. At market close on Friday, the stock was up 470% year-to-date.
The company is directing its hybrid employees to resume in-office work four days per week beginning January 5, 2026. Only Fridays will be allowed for remote work. The new terms of employment were laid out in a memo, obtained by Deadline, from Chief Operating Officer Adam Miller. "We are better when we are together." Miller stated, "As we have all experienced, in-person work and collaboration spark innovation, promote creativity, and build stronger connections."
After years of assuming hybrid working would permanently shrink their need for desks, bosses are increasingly bringing staff back more regularly. The result is a surge in demand for bigger, modern offices that has caught many firms short. One national consulting executive admitted he had misjudged the future of working life: "In lockdown I had to look into a crystal ball and predict our future ways of working and got it wrong."
Miya Walker, 25, wasn't worried about child care costs when she was pregnant with her son in 2021. Her data analyst role was remote, and her mom was around when she needed help. But after her son was born in April 2022, her employer pushed going back to the office, an hourlong drive from her home in Snellville, Georgia. Then, her mom's arthritis flared up.
The move comes as staff are bracing for big job cuts. The company said it would cut 3.5%, or hundreds of employees, CNBC reported, as it looks to deliver on a promised $2 billion in cost savings. Ellison said the return would start in January with employees based in Los Angeles and New York. Starting this month, severance would be offered to those - at levels of VP and below - who can't or don't want to return full time, with some limited exceptions.
One of Australia's largest banks has made it clear to employees that not coming into the office will have consequences. In an internal memo on Thursday, ANZ Group said employees' salaries will be cut if they are not in the office for at least half the working week. Bloomberg first reported the memo. A spokesperson for ANZ confirmed the contents of the memo to Business Insider.
Starting Sept. 29, the coffee giant, Starbucks, will require many corporate workers to commute into the office four days a week, up from the current three. While framed as a culture-building move, the shift raises new concerns about environmental impact and community strain - both of which add up for a large company - at a time when climate goals should be moving forward, not in reverse.
AT&T CEO John Stankey recently sent a headline-making memo to employees, doubling down on the organization's return to office (RTO) policy and highlighting a transition away from a "familial" employer-employee relationship rooted in loyalty and tenure toward a culture of performance metrics and contribution. The memo also acknowledged a drop in overall employee engagement, despite a high percentage of workers who said they felt committed to their work. This memo brings up two important points leaders must consider.
I understand this creates real challenges for many, and those concerns are valid. At the same time, this directive comes from the governor's office as part of broader policy decisions about how state government operates.
