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American real estate technology company Opendoor has decided to close its entire operation in India. This move will affect about 250 employees of the company working in India. The company is laying off so many employees. The company says that it is shifting its operational work closer to the customers i.e. to America. According to CEO Kaz Nejatian, due to the increasing use of AI and automation, there is no longer a need for a large offshore workforce, due to which this big decision was taken.
American real estate technology company Opendoor has announced the closure of its business in India. Company CEO Kaz Nejatian said in a note sent to employees that all operational work going on in India will be gradually transferred to America. This decision will affect all the employees of the company present in India.
According to the CEO, when the company launched the Opendoor 2.0 strategy a few months ago, it had around 250 employees working in India. In the last few months, many responsibilities have already been shifted to America and now the remaining work is also being transferred there. However, some employees will remain with the company until the transition process is completed.
AI and automation became a big reason
The company has clarified that this decision has not been taken because of the performance of the employees. The CEO praised the Indian employees and said that they have contributed significantly to the success of the company. He told that earlier the company needed a large team to handle many different systems and manual workflows, but now with the help of AI and automation, many processes have become easier.
Work being brought closer to customers
According to Kaz Nejatian, all the customers of Opendoor are in America. In such a situation, the company believes that the operational team should also be close to the customers. The company has integrated its various systems and built small but AI-based customer-facing teams in the US. This has significantly reduced the need for large offshore operational staff. The company has assured the affected employees of providing severance package, outplacement service and other transition assistance. The CEO said that Opendoor is ready to recommend the capabilities of Indian employees to any recruiting company.
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