Opendoor Technologies (NASDAQ: OPEN) is closing its India operations.
The move results in layoffs for approximately 250 employees. CEO Kaz Nejatian announced the decision as part of the Opendoor 2.0 strategy.
The company aims to move operational roles closer to its U.S. customer base. Opendoor is replacing manual offshore workflows with smaller, AI-native teams in the United States. These domestic teams will use artificial intelligence to handle tasks previously performed by the India-based staff.
Affected employees in India will receive severance packages and outplacement services. Opendoor shares rose approximately 8% following the announcement.