India, June 11 -- US-based real estate platform Opendoor is entirely winding down its India operations and laying off its local team to move operational work back to America. Sharing an internal note on social media, the company's CEO, Kaz Nejatian, said that because their core customer base is in the United States, that is where the operational roles truly belong. He clarified that the decision does not reflect the quality of the team's work and actively recommended the affected employees to other recruiters, calling them "excellent people."

"I shared this note earlier today with the entire team at Opendoor. Today we began to say goodbye to our colleagues in India as we wind down our India operations. Our customers are in America, and t...