Opendoor shuts India operations, relocates roles to US under AI-driven restructuring
&imwidth=600&imheight=450&format=webp&quality=medium "Opendoor shuts India operations, relocates roles to US under AI-driven restructuring")
Opendoor shuts India office, relocates roles to US under AI-drirestructuring Photograph: (X | Kaz Nejatian)
US-based real estate technology company Opendoor is shutting down its India operations and relocating roles to the US as part of its AI-driven Opendoor 2.0 restructuring plan announced by CEO Kaz Nejatian.
US-based real estate tech company Opendoor closed its operations in India and relocated to the US. Opendoor CEO Kaz Nejatian announced the decision on June 11, as part of its "Opendoor 2.0" strategy focused on AI-driven restructuring and operational overhaul. Kaz said that the work is best done closer to its home with American customers. In an internal note shared by the CEO, Kaz said that some of the roles have been shifted to the US, and the company has already said goodbye to colleagues, as it began the process of winding down.
“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,” said CEO Kaz Nejatian in a post on the social media platform X.
Despite the workforce reduction, Kaz said that Opendoor will remain bigger in impact. He said that Opendoor has built an AI-native customer-facing team throughout the US to unify the fragmented systems. He said that the expectation of workers will be to shoulder bigger responsibilities, as it will now be a much smaller company in terms of headcount.
What does this mean for Indian Opendoor workers?
CEO Kaz acknowledged the difficulties of the people affected by the transition of the operations to the US. Around 250 employees will be laid off in India as part of the AI-driven restructuring. He called it a “significant and difficult change” and claimed that the company is offering a transition and severance package and outplacement service. He said that a small team will remain to “complete the transition of key workstreams”.
What is Opendoor?
Founded in 2014, Opendoor had an “i-buying” model, which provided buying and selling services using technology and data analytics. It also offers mortgages through its digital platform. In India, Opendoor had three offices in Hyderabad, Bengaluru and Chennai. The Hyderabad and Bengaluru offices were set up in 2024. Right now, it maintains its presence in the US only.
