Ride hailing and food delivery app Grab will be cutting 11% of its workforce or about 1,000 jobs as it looks to manage costs and ensure more affordable services long-term, according to a letter that was sent to employees late on Tuesday night and that was posted publicly on the company's website.
Grab Holdings Ltd. is preparing its biggest round of layoffs since the pandemic, as the internet company faces stiffening competition in ride-hailing and meal delivery across Southeast Asia.