Grab, Singapore’s Ride-Hailing Giant, to Implement Major Workforce Reductions Amidst Pandemic Challenges – Bloomberg Report

Grab Holdings, headquartered in Singapore, is gearing up for its most significant wave of layoffs since the onset of the pandemic, as reported by Bloomberg News on Tuesday. Citing individuals familiar with the situation, the reductions are poised to be unveiled within the coming week and are expected to surpass the previous downsizing efforts in 2020, which resulted in a reduction of approximately 5% of the workforce, amounting to around 360 employees.

At present, there has been no immediate response from Grab’s media relations representative regarding the matter, in spite of a request for comment. Confidential sources within the organization, preferring anonymity due to the absence of authorization to engage with the media, expressed their unawareness of any forthcoming job cuts.

Noteworthy to mention, Grab holds a prominent position as Southeast Asia’s foremost ride-hailing and food delivery application. In February, the company displayed a positive outlook for its revenue in 2023 and expedited its timeline for achieving profitability.