New Delhi, June 11 (IANS) US-based real estate technology company Opendoor has begun winding down its India operations, with CEO Kaz Nejatian announcing that roles currently based in the country will be relocated closer to the company’s customers in the United States.

In a note shared with employees and the same posted on social media platform X, Nejatian said the company had started saying goodbye to its colleagues in India as part of a broader restructuring effort.

“Today we began to say goodbye to our colleagues in India as we wind down our India operations. Our customers are in America, and that’s where our operational work belongs,” he wrote.

According to the CEO, Opendoor had nearly 250 employees in India when it launched ‘Opendoor 2.0’ a few months ago.

Over the past several months, some of those roles had already been moved back to the US, and the company is now finalising the process of bringing the remaining operational positions closer to its customers.

The move will affect all India-based employees, although a small number of team members will remain temporarily to support the transition of key workstreams.

Nejatian said the decision was not a reflection of the performance of employees in India and described them as having done meaningful work for the company.

“Our colleagues in India are great people, and we recommend them to anyone hiring,” he said, adding that affected employees would receive transition support, including severance packages, outplacement services and other resources.

Explaining the rationale behind the move, the CEO said Opendoor’s operational work is best carried out closer to customers in the US. He noted that the company had previously built a large team in India to manage manual workflows across fragmented systems but had since streamlined many of those processes.

Nejatian said the company has unified its systems and built small AI-native customer-facing teams across the US, reducing the need for a large offshore operational workforce.

“After today, Opendoor 2.0 will be a much smaller company by headcount, but a much larger company by impact,” he said.

The company plans to simplify processes, reduce reliance on multiple tools and manual workflows, and build a unified platform that enables employees to track the entire lifecycle of a home transaction, from purchase and renovation to sale.

Despite the workforce reduction, Nejatian said Opendoor remained in a strong position and that the company’s strategic priorities had not changed.

“Our colleagues in India helped get Opendoor to where it is today, and we’re grateful for it. Our job now is to keep tilting the world in favour of homeowners,” he said.

–IANS

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