Snapdeal is Scaling Down it’s operation due to Slow down in funding!

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Azadi Ka Amrit Mahoutsav

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Scale Down due to Slow Down! That’s the strategy what Snapdeal has taken.

As it has been reported that, due to the recent slow down in funding, India’s one of the front runner in eCommerce space, Snapdeal has decided to Scale Down it’s operation in following regions, Bangalore, Mumbai, Kolkata & Hyderabad.

Due to the shrink in recent funding they have taken this decision. Not only that, in coming 6 months if Snapdeal doesn’t get any fresh funding they are also planning shut down a few offices.

In recent time, Snapdeal has also made some striking decisions. Like earlier this year they had also launched a performance improvement plans for some employees, some employees have been asked to relocate from regional offices to the head office in Delhi and to some employees they even asked to resign by offering 2 months of severance package.

Although these are seeming harsh but this is the real picture of India’s startup scenario. Where due to immense competition, as funding are getting slowed down so companies are taking new approaches to stay profitable.

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Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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