In the absence of new rounds of funding, homegrown eCommerce platform Snapdeal is now planning to scale down operations in its regional offices in cities like Mumbai, Hyderabad, Bengaluru and Calcutta.
New Delhi-based online retailer had reported a loss of INR 1,328 cr earlier in January 2016 on revenue of INR 938 Cr. in FY 14-15.
It is also been been speculated that the company may even shut down a few offices in the coming six months. The accounts and vendor management teams in Bangalore have already been dipped down to about 45 people from 85 people a year ago.
The eCommerce giant is now shifting focus to its ads business. Earier this week, Snapdeal rolled down the new version of its advertising platform Snapdeal Ads.
A few employees from Bangalore and Chennai region have been asked to relocate to Snapdeal’s office in Gurgaon and New Delhi. The move has resulted in resignation of a lot these employees.
Earlier this year Snapdeal asked 200 of its employees in its consumer service department to improve their performance or head out. The company has been very fragile on its employees and have been asked them to choose between resigning or going on the performance plan, giving them a month’s time to meet targets. And if failed, it will only result in termination.
Earlier this week, Snapdeal’s Chief Product Officer Anand Chandrasekaran quit the company. The announcement was made by Rohit Bansal on Twitter.