According to a story from Bloomberg News on Tuesday, citing people familiar with the situation, Grab Holdings (GRAB.O), located in Singapore, is planning its largest round of layoffs since the pandemic.
The cuts, which are expected to exceed a 2020 round that reduced personnel by 5%, or approximately 360 employees, the newspaper stated, will be disclosed as soon as this week.
When reached for comment, a Grab representative in charge of media relations did not immediately react. The two employees who spoke to us on the condition that they remain anonymous stated they did not know about any upcoming layoffs.
Southeast Asia’s biggest ride-hailing and food-delivery service had predicted optimistic 2023 revenue and accelerated its profitability timeline in February.
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