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.
A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. REUTERS/Anshuman Daga/File Photo/File Photo, 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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