By: The Snapdeal-Flipkart merger talks initiated by its principal investor SoftBank makes an old news. The latest reports suggest that the Snapdeal apparently is on a severe cost cutting spree. Snapdeal cuts 60% Gurgaon Office To Cut Costs.
The online marketplace Snapdeal has been suffering rigorous cash crunch for long. As a result, the company has bid a bye to a huge number of its employees. Now, in the most recent reports, the company is also vacating some of its office spaces. The company is to slash about 60% of its Gurgaon office. It now will fit in a new single tower office.
This isn’t the first relocation of Snapdeal workspace, and there might be more to come. A short while earlier it also vacated its ‘Awfis’ in Mumbai. ‘Awfis’ is the name of the co-working space Snapdeal used to operate from.
It’s not been even two years that the Snapdeal made a move to the AFS Centre’s B-Wing in Gurgaon. That was the time when Snapdeal was hiring like anything. Then arrived the capital crisis that made it cut its team many folds shorter. The company that once had a strength of 8000 employees went on to become just 2500 strong implementing its cost-cutting measures.
An official email of Snapdeal to its employees informed them of the move. The email read, “As you may be aware we are consolidating our offices across Gurgaon ( Snapdeal Cuts 60% Gurgaon Office). We will vacate Centre B on April 30, 2017.”
Apparently, the Gurgaon staff of the e-commerce company was well aware of the move. One of them states to the reporters, “Essentially there will be one tower in all compared to two each in two compounds.” A company spokesperson also confirms the authenticity of the news. He says some of the facilities are to relocate withing the Gurgaon office.
SoftBank is the largest investor in Snapdeal. While the Indian e-commerce major struggled to raise funds, SoftBank inducted its merger proposal to the rival Flipkart. The initiations of SoftBank as per the reports seems to be fruitful. Snapdeal might soon be a part of Flipkart.
