Singaporean superapp Grab delivers massive job cuts
Singaporean superapp Grab has revealed it will lay off 1,000 staffers, or eleven percent of its workforce – and did it with an after-hours email.
But he was probably doing it to avoid a terrible scene in the office, in which fired and retained staff mingled and almost certainly moaned or departed to the pub for the afternoon. That would not have helped productivity for the rideshare, food delivery, financial services and mapping services upstart – which dominates South East Asia so thoroughly that Uber decided it was better off joining Grab than trying to compete with it.
He went on:"We must adapt to the environment in which we operate. Change has never been this fast. Technology such as generative AI is evolving at breakneck speed. The cost of capital has gone up, directly impacting the competitive landscape."
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