US-based real estate platform Opendoor is winding down its India operations and laying off nearly 250 employees to move operational work back to America.
CEO Kaz Nejatian said the decision is not a reflection of the quality of the team's work and recommended the affected employees to other recruiters.
The company will provide transition packages including severance, outplacement services, and other resources to the affected employees.
Opendoor aims to simplify its operations, build one platform, and stop stacking manual workflows on top of point-solution tools.
The company's priorities and direction have not changed, and Opendoor is in a strong position and getting stronger.
