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SNAPDEAL COST CUTTING
Snapdeal's revenue grows 73%, losses drop by 71% in FY19In the last two years, Snapdeal has sharpened its focus on the needs of the value-conscious buyers in India.- Snapdeal cuts losses to Rs 613 cr for FY18, confident of hitting profitsOn a consolidated basis, the Soft-Bank Group, Alibaba Group and Foxconn-backed online retailer posted a loss of Rs 613 crore in 2017-18.
- SoftBank records $1.4 billion loss from India investmentsSoftBank is the largest private investor in India's startup ecosystem. The Masayoshi Son-led giant has pumped in over $2 billion here till ...
- 2 months after layoffs, Snapdeal initiates payouts to affected employeesThe online marketplace has a significantly larger workforce that has been affected by the retrenchment, but it has declined to specify the ...
- Impasse at Snapdeal board meeting, no decision on sale yetThe board meeting of Snapdeal, where SoftBank and Nexus have representatives, did not reach an agreement on the sale, sources privy to the ...
- As part of its cost cutting drive, Snapdeal vacates ‘Awfis’ in MumbaiMany e-commerce firms have taken to consolidation of office space recently including Flipkart that surrendered 70% of the space in its upco...
- Snapdeal to slash office space in Gurgaon by over 60%The online retailer had moved to its Gurgaon campus less than two years ago when it leased a 4.5-lakh-sq-ft campus in Udyog Vihar to keep p...
- Snapdeal may reduce office space in Gurugram to cut costsSnapdeal had leased a total of 480,000 sq ft of office space in the two commercial buildings in Udyog Vihar, Gurugram, developed and owned ...
- Anti-fraud steps lead to Rs 3 crore/month savings to Snapdeal"The initiatives have resulted in the company saving close to Rs 3 crore per month," Snapdeal said in a statement today.
- Snapdeal yet to settle Rs 1.2-crore dues: VendorsAn AIOVA spokesperson said some sellers will be meeting the Snapdeal team to air their grievances this week and raise the issue of clearanc...
- SoftBank-backed Snapdeal's tale snaps; hands out pink slipsCompany spokesperson, in a written response, denied that it was shutting some of its offices, which sources said it was considering.
- To save company, Snapdeal bosses try Spicejet chief’s routeKunal Bahl and Rohit Bansal decided to forego their salaries to share the pain of the staff and lift their morale amid cost cuts and effort...
- Snapdeal to cut wage costs by over 60%This comes on the back of rising salaries and bonuses amounting to Rs 673 crore for the financial year 2015-16, compared to Rs 217 crore a ...
- Time for tough calls: Snapdeal founders to staffThe communication comes at a time when Snapdeal is downsizing and shutting its non-core businesses, as reported earlier.
- Snapdeal tightens belt, plans to fire 30% staff in 2 monthsIn February 2016, Snapdeal had put over 200 employees on a Performance Improvement Program and eventually let go of the additional staff.
- Snapdeal moves to a smaller office in Andheri, denies cost-cutting rumoursThe e-commerce major recently moved from its 200-seat capacity office in Malad to a 90-seat office in a co-working hub.
- Snapdeal to cut costs, opts for co-working hubsStartups has picked up an entire floor in co-working space provider Awfis Space Solution’s hub in Andheri (west) that has a total capacity ...
- Snapdeal tweaks return policy; buyers will now have to furnish document from authorised service centreExperts said the policy may dissuade buyers from purchasing top-selling electronic items from it and divert them to rivals such as Flipkart...
- Pay hikes slide from up to 40% to almost nothing at startupsInMobi has delayed their appraisal cycle while biggies like Flipkart and Snapdeal are being extremely conservative in giving hikes this yea...
- Apple iPhone 5 available at Rs 42,990While the government has raised taxes on phones costing more than Rs 2,000, online retailer Snapdeal has lowered the prices of iPhone 5.
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