Singapore-based Grab Holdings, a leading ride-sharing and food delivery app of Southeast Asia is laying off nearly 1,000 workers; that is 11% of the company’s total workforce. Grab chief executive officer Anthony Tan said the decision was made as part of plans to manage costs and ensure affordable services in the long term. News Reuters.
Anthony Tan announced the layoffs in a letter sent to employees late Tuesday.
The layoffs, the biggest since the start of the pandemic, he wrote in the letter, are not about making short-cut profits, but rather a strategy to adapt to rapid business changes.
