Will Gojek exit Singapore? Reducing its cut from drivers could be a prelude

GOJEK drivers may have cheered the recent cut in commission rates to be paid to the ride-hailing platform operator. But the news may be a harbinger of something bleaker – that Gojek could be eyeing an eventual exit from Singapore.

Gojek last week said that it will lower the driver commission rate to 10 per cent per trip – from 15 per cent previously – from November 2023 until at least the end of 2024. This was touted as a way to help drivers defray increased operations costs, and lure more drivers onto its platform.

A DBS Group Research report published Oct 20 said, however, that the cut in driver commission rates will “intensify losses” for Gojek and parent company GoTo.