It is shown that chalcogenide glasses with suitably underconstrained network can undergo reversible giant photocontractions up to a micron depth. These effects result from the combination of two attributes particular to these glasses, (i) the high photosensitivity characteristic of low coordination floppy networks and (ii) the wide window of structural configuration characteristic of fragile glass former. Interestingly these effects are reversible and subsequent irradiation with high intensity results in giant photoexpansion in the same glass. The combination of subsequent photocontraction and photoexpansion on the same glass surface has good potential for the design of complex optical elements.