Grab set to announce layoffs: sources
Add BT as a preferred source
[SINGAPORE] South-east Asian ride-hailing and payments firm Grab is set to announce layoffs on Tuesday, sources told Reuters.
Grab, South-east Asia's most valuable startup that is backed by SoftBank Group Corp and was last valued at US$14 billion, flagged the layoffs at a townhall for staff, according to people with knowledge of the matter.
Grab is expected to cut 5 per cent of its staff, or around 300 people, one source said.
The company did not immediately respond to a request for comment.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
From Tai Sin Electric to Toku: Industrials, tech stocks rule in RHB’s refreshed list of small-cap ‘jewels’
