Grab

Southeast Asian ride-hailing and food delivery app operator Grab laid off over 1,100 employees, about 11% of its staff, as part of cost-cutting measures aimed at achieving profitability. The layoffs were announced this week, with the company citing changes in technology, capital markets, and competition as reasons for the move.

Grab laid off 1,000 employees representing approximately 11% of its workforce on 2023-06-20.

Grab, Southeast Asia's leading ride-hailing startup, laid off 360 employees last week, representing about 5% of its workforce. The cuts, affecting multiple departments primarily in Singapore and Indonesia, are part of a strategic shift to sunset non-core projects and refocus resources on its growing delivery business. This move aligns with broader trends in the ride-hailing industry, following similar staff reductions by global peers like Uber and Lyft. The company is providing comprehensive transition support to affected employees, including severance pay, extended health insurance, and outplacement assistance.