Flipkart has decided not to take up 40% of the office space in its new campus in Embassy tech village in Bengaluru even as the country’s biggest ecommerce company looks to cut costs and reduce losses, said multiple people aware of the matter. Flipkart, which is undergoing a restructuring drive, will now take 1.2 million sq ft office space in the new campus as opposed to the earlier plan of occupying 2 million sq ft in two phases.
“Flipkart in a recent meeting with top executives of Embassy Group has communicated they do not want to go ahead with the entire 2 million sq ft. The meeting was attended by Flipkart cofounder and CEO Binny Bansal and CFO Sanjay Baweja, who recently quit the firm,” said a person aware of the development. Flipkart did not comment on the development.
Read more: Economic Times