SINGAPORE (Reuters) – Singapore-based Grab Holdings is preparing its biggest round of layoffs since the pandemic, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The reductions are set to be announced as soon as this week and are likely to surpass a 2020 round that shrank staff by 5%, or about 360 employees, the report added.
A media relations official for Grab did not immediately respond to a request for comment. Two sources at the company, who declined to be identified because they were not authorised to speak to media, said they were not aware of any planned job cuts.
Southeast Asia’s leading ride-hailing and food delivery app had in February forecast upbeat 2023 revenue and pulled forward its profitability timeline.
(Reporting by Lavanya Ahire in Bengaluru and Xinghui Kok and Chen Lin in Singapore; Editing by Varun H K and kanupriya Kapoor)
