US-based real estate technology firm Opendoor has commenced the winding down of its operations in India, as CEO Kaz Nejatian announced plans to relocate roles to the United States to be closer to the company’s American customers. Nejatian conveyed in a note to employees that the process of bidding farewell to colleagues in India has begun as part of a broader restructuring initiative.
Opendoor, which had around 250 employees in India during the launch of ‘Opendoor 2.0’ a few months back, has already transferred some roles back to the US over recent months. The company is now in the final stages of moving the remaining operational positions to be in proximity to its customer base.
While the transition will impact all employees based in India, a small group will stay temporarily to facilitate the shift of key workstreams. Nejatian emphasized that the decision does not reflect the performance of the Indian employees, acknowledging their significant contributions to the company.
The CEO clarified that Opendoor’s operational activities are more effectively managed in the US due to the proximity to customers. He highlighted the company’s shift towards a smaller but more impactful workforce post-restructuring, focusing on simplifying processes and enhancing the home transaction lifecycle tracking system.
Despite the reduction in workforce, Nejatian affirmed that Opendoor remains robust and committed to its strategic objectives. He expressed gratitude towards the Indian team for their role in the company’s journey and reiterated the focus on empowering homeowners.
