Singapore's Grab informs staff of 1,000 layoffs
Reuters
Published Jun 20, 2023 14:20
Updated Jun 20, 2023 14:38
SINGAPORE (Reuters) - Singapore-based Grab Holdings, Southeast Asia's leading ride-hailing and food delivery app, is cutting 1,000 jobs, or 11% of its workforce, its CEO said on Tuesday, citing the need to manage costs and ensure more affordable services long-term.
In a letter sent to employees late on Tuesday and seen by Reuters, chief executive Anthony Tan said the cuts, the biggest since the start of the pandemic, were not "a shortcut to profitability" but a strategic reorganisation to adapt to a fast-changing business environment.
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Written By: Reuters
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