Snapdeal may reduce office space in Gurugram to cut costs

SoftBank-backed ecommerce firm Snapdeal is planning to give up about half of the space in its main corporate office in Gurugram as part of a cost-cutting drive.

After layoffs, the online marketplace is planning to 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, according to two people familiar with the development.

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 was paying a monthly rent of `55 per sq ft.

“Snapdeal is smart-sizing its operations and trimming some portion of the Gurugram headquarters. It might retain around 50% of the space,” one of the persons cited earlier said.

Read more: The Economic Times