SINGAPORE — Grab, Southeast Asia's leading ride-hailing and food delivery app, is cutting 1,000 jobs or 11 per cent of its workforce, its CEO said on Tuesday (June 20), citing the need to manage costs and ensure more affordable services long-term.
, Southeast Asia's leading ride-hailing and food delivery app, is cutting 1,000 jobs, its chief executive officer said on Tuesday , citing the need to manage costs and ensure more affordable services long-term.
"We must combine our scale with nimble execution and cost leadership, so that we can sustainably offer even more affordable services and deepen our penetration of the masses." Its shares were up 4.7 per cent premarket after Mr Tan's announcement to staff. The stock had climbed as much as 5.6 per cent premarket, extending earlier gains on a Bloomberg News report of the cuts.
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