New Delhi, June 11 -- US-based real estate technology company Opendoor has announced that it is shutting down its India operations and laying off around 250 employees in the country.

"When we launched Opendoor 2.0 a few months ago, Opendoor had nearly 250 employees in India. Over the last few months, some of these jobs have been relocated back to the United States," Opendoor CEO Kaz Nejatian wrote in a memo, "Today, we are finalizing bringing these roles closer to our customers in America and beginning the process of winding down our India-based operations."

Nejatian added that the company is providing a transition package to its Indian employees which includes severance, outplacement services and other resources. He also said that a sm...