Image via ETtech (Economic Times)
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Opendoor: Layoffs
Opendoor shut down entire India office with approximately 250 employee layoffs, citing AI-led automation. Company consolidated manual workflows previously handled by offshore Indian employees.
Source: ETtech (Economic Times)
The leadership read
Workforce moves like this mark the contracting side of technology hiring conditions.
Market context: The wider read — a Talent Market Index of 105.9 (Hot), down 2.3 month-on-month — shows Asia signal flow steady (+0.5pts).
Opendoor: 3 signals in the last 90 days — above the Technology median of 1 across 211 tracked companies; 0.2% of MitchelLake's Asia signal flow; 3 tracked across 24 days.
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From the MitchelLake archive
Also at Opendoor →
More signals across Technology
Partnership · Asia
Samsung Electronics →Samsung Electronics is using Qualcomm's Snapdragon Wear Elite processors in its new Galaxy Watch Ultra 2 and Galaxy Watch 9 instead of its in-house Exynos chips, marking a shift away from vertical integration in smartwatch processors.
Partnership · Asia
Circle →Circle signed a Memorandum of Understanding (MOU) with Kakao Group to explore USDC-powered blockchain payments in South Korea, marking expansion of Circle's partnership footprint in the region.
Ma Activity · Asia
KKR →KKR is marketing nine commercial properties across China (Beijing apartments, Shanghai hotel on the Bund) for sale. Expects 50-60% of original purchase prices, indicating major divestment from Chinese real estate.
Ma Activity · Asia
Treasury Wine Estates →Treasury Wine Estates has halted Penfolds Bin 407 orders in China, suggesting potential market contraction or strategic portfolio review
Partnership · Asia
NEC →NEC is one of 44 companies investing in and partnering with Noetra on Japan's national AI infrastructure project focused on physical AI and multimodal foundation models.
Geographic Expansion · Asia
Tata Consultancy Services (TCS) →TCS opened its eighth Gemini Experience Center globally and third in India (Kolkata), in partnership with Google Cloud. Facility focused on AI/agentic AI solutions development and deployment.
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