Cost cutting drive continues, Snapdeal may give up half of office space in Gurugram

After handing over pink slips, Snapdeal is taking up one more step to cut costs. It is reducing its office space in Gurugram.

Snapdeal may reduce main corporate office space in Gurugram by half as part of its cost-cutting drive.

As per various reports, Snapdeal may leave ASF Tower, where it occupies about 1.5 lakh sq ft, and some part of ASF Center, which covers about 3.3 lakh sq ft.

The company had leased a total of 480,000 sq ft of office space in the two commercial buildings in Udyog Vihar, Gurugram, developed and owned by ASF Group.

"Snapdeal is smart-sizing its operations and trimming some portion of the Gurugram headquarters. It might retain around 50% of the space,” ET quoted one of its sources.

ET quoted a source saying Snapdeal is working out a deal with ASF Group to create a win-win situation for both.

Snapdeal is now looking to make profits and expects the online marketplace to turn profitable in the next two years.