OPENDOOR TECHNOLOGIES, a real estate tech company, has shut down its operation in India, laying off nearly 250 employees as announced by the company’s CEO Kaz Nejatian. Nejatian took to X on June 10, 2026, saying that the company has been moving various roles to America since the last few months after its launch of Opendoor 2.0. Netajin further said that their customers are in the US, thus the operations of the company will also move closer to them.

Opendoor had recently launched its new framework, Opendoor 2.0, leading new iBuyer innovations in the real estate business. Nejatian claims 2.0 will be “a much smaller company by headcount but a much larger company by impact.” The CEO of the company further emphasized his vision to simplify its operations with fewer tools, more transparency into buying, renovating and selling processes.

He went on to praise his India team, saying he is grateful to them and the company’s decision is “not a reflection of the quality of their work.” He wrote, “Our colleagues in India are great people, and we recommend them to anyone hiring [...] If you're hiring and have a presence in India, these are excellent people. Consider this my reference letter and hire them.” The laid off employees will be provided transition packages including severance and outplacement services.

In the recent months Opendoor 2.0 has moved to more AI-driven solutions. While in his official statement, Nejatian only mentions “having lower headcount” in the company moving forward, he doesn’t directly address the concerns of AI replacing these jobs.

Opendoor Technologies is a real estate technology company, offering the largest iBuyer network in the US that uses AI and digital tools to buy homes directly from sellers (with instant cash offers), renovate them, and resell them to buyers.

Recently, the company announced a new framework, Opendoor 2.0, that uses more AI and automation tools. Early tests of the program suggest some improvements and cost-cutting measures, leading to higher customer satisfaction. User reviews suggest fewer buyers are backing out of deals, the selling process takes less time, and fixing up houses also costs less.

Business expert Eric Jackson, recently commented that Opendoor might be leading into the first tokenization of real estate properties, meaning it could move beyond the iBuyer system to blockchain-linked property ownership. However, the company has not announced any such future plans so far.

While some users, reacting to the CEO’s statement, speculated that this decision might be linked to the recent immigration crackdown in the US, the company doesn’t mention any bureaucratic concerns in managing its operations.

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Netizens reacting to the news pointed out how Opendoor technologies has been struggling over the years. The CEO not acknowledging that the downsizing is linked to the company’s performance was jarring for some users.

One user wrote, “All the low value outsourcing and back office work currently shipped to India by the big American tech firms is going to get transitioned to AI. Very tough times ahead for the Indian service sector.”

The company’s stock price has crashed 75% in the last five years, reaching as low as $0.6 in June 2025.  When Nejatian took over the CEO position in September 2025, the company saw a massive surge in the stock market, with share price increasing to $9. However, now it has stabilised to around $4-5, showing the market’s trust is eventually waning from the company.

Pritika Mehta, founder of Butternut AI, also reacted to the Opendoor CEO’s announcement on X, writing, “In last 20 years, the lowest-risk path to becoming a millionaire in India was to start an IT services company. The door isn’t open anymore. On top of it, AI is eliminating jobs that required bodies to be thrown at them which India had plenty. Something new will come but transition period is going to be painful.”

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