The Business Times
business-time-50

Grab’s mega layoffs send chill over company, but analysts upbeat on direction

google-preferred-sourceAdd BT as a preferred source

Claudia Chong ,

Benjamin Cher ,

Wu Xinyi &

Bernadette Toh

Published Wed, Jun 21, 2023 · 11:01 PM
    • Grab's latest round of retrenchment has cast a pall over those left behind, while those who lost their jobs have seen the community rally around them, some with job offers.
    • Grab's latest round of retrenchment has cast a pall over those left behind, while those who lost their jobs have seen the community rally around them, some with job offers. PHOTO: BT FILE

    THE mood was sombre on Wednesday morning (Jun 21) as Grab employees – survivors of its mass layoffs – logged into a virtual company-wide town hall.

    At the top of their minds was a question bugging them since the night before, when their chief executive Anthony Tan announced Grab was letting over 1,000 people go: will there be a second wave of retrenchments?

    Tan avoided giving a straight answer, said one source who was present at the meeting.

    GrabTech layoffs

    TRENDING NOW

    Employees may grumble about long hours, difficult clients or demanding deadlines, but often the biggest push factor is how they are treated.

    What makes a good job? Feeling that you matter

    Liang’s net worth more than doubled to US$36 billion, from around US$16.7 billion, according to the Bloomberg Billionaires Index. 

    DeepSeek founder Liang Wenfeng becomes the world’s richest AI model creator

    Alibaba’s Qwen alone has overtaken Meta’s Llama to become the most downloaded open-source model family in history.

    When the disruptor gets disrupted: How Chinese open-source AI is eating its own industry

    US Secretary of State Marco Rubio (far left) and Treasury Secretary Scott Bessent listening as President Donald Trump (centre) speaks to the media on the sidelines of a Nato summit in Ankara, July 8, 2026.

    A new kind of ‘ceasefire’ between US and Iran where talks, strikes are part of the same process

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More