(Image source from: Moneycontrol.com)

A real estate tech company from the US, Opendoor, has revealed its intention to close its operations in India, impacting close to 250 workers. This news was shared by Opendoor's CEO, Kaz Nejatian, who mentioned that the business is relocating operational positions closer to its customers in the US as part of its strategy to change the business. In a message sent to employees and later shared on X, Nejatian noted that the company had started moving some positions back to the US in the last few months. This recent decision will finalize the process and end Opendoor's operations in India. Nejatian explained that since their customers are located in America, the operational tasks supporting them are best handled nearer to those customers. He mentioned that the company had built a significant team in India to manage manual tasks across various systems, but advancements in technology and the launch of AI teams in the US have decreased the need for those tasks to stay overseas.

Nejatian emphasized that this move was not a reflection of the India team's performance. He commended the Indian employees for their hard work and described them as skilled professionals who would be great assets to other companies. The organization mentioned that those affected will receive help during this transition, which includes severance pay, job placement services, and other support. A few employees will remain temporarily to help with the transition of essential work tasks. Even with the reduction in staff, Nejatian stated that Opendoor is still in a strong position and that the overall business plan remains unchanged. He added that the goal of the company is to streamline operations, create a unified platform, and lessen dependence on manual processes while continuing to focus on serving homeowners in the US.