Grab Holdings, the leading ride-hailing and food delivery app in Southeast Asia, has announced a workforce reduction of 1,000 employees, approximately 11% of its workforce. CEO Anthony Tan emphasizes that this strategic restructuring is driven by the need to manage costs effectively and ensure long-term affordability, adapting to the evolving business landscape.
SINGAPORE, 20 June 2023 – Grab Holdings, the leading ride-hailing and food delivery app in Southeast Asia, announced today that it will be reducing its workforce by 1,000 employees, constituting approximately 11% of its total workforce. This strategic decision, communicated by CEO Anthony Tan in a letter to employees, is driven by the need to manage costs effectively and ensure the long-term affordability of Grab’s services in response to a rapidly evolving business landscape.
The ongoing global pandemic has necessitated transformative measures across industries, and Grab Holdings is no exception. However, Tan emphasized that the job cuts are not merely a means to achieve profitability in the short term but a strategic reorganization aimed at adapting to the dynamic business environment and ensuring the company’s sustainability and competitiveness.
In the letter addressed to employees, Tan expressed the importance of making difficult decisions to secure Grab’s future success, enabling the company to deliver affordable services that meet the evolving needs of its customers. This restructuring will involve various areas of the organization to streamline operations, enhance efficiency, and optimize resource allocation.
Grab Holdings remains committed to supporting affected employees during this transition period. The company will provide comprehensive assistance, including severance packages, outplacement support, and access to necessary resources to facilitate their career transition.
As a market leader in Southeast Asia’s ride-hailing and food delivery industry, Grab Holdings will continue to leverage its expertise and innovative solutions to navigate the changing landscape, ensuring a seamless experience for its customers and partners alike. The company remains focused on delivering high-quality and affordable services while fostering sustainable growth in the long run. – source: Reuters