Singapore based Grab to cut more costs amid economic chill


SINGAPORE, Dec 18 (Reuters): Grab Holdings, South-East Asia's biggest ride-hailing and food delivery firm, is cutting more costs to cope with an uncertain economic backdrop, the Singapore-based company's CEO told staff in a memo.

The measures include a freeze on most hiring, salary freezes for senior managers and cuts in travel and expense budgets, co-founder and CEO Anthony Tan said in the memo which was issued on Wednesday and viewed by Reuters.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Singapore , Grab , Cost Cutting Measures

   

Next In Aseanplus News

After 20 years, the post-tsunami generation stays vigilant for future disasters
Singapore ministry looking into job listings supposedly by Ngee Ann Poly branch of Communist Youth League of China
South Korea's Yoon defies second agency summons over martial law
China condemns Philippine defence chief's remarks on China, US missiles
As India's Bollywood shifts, stars and paparazzi click
Fire at Rohingya camp kills two, displaces thousands in Bangladesh
Sharing small details online could empower scammers, warns Cambodian ministry
Government starts anti-dumping duties review
An Apple AI blunder messed up headline summaries so badly some want the feature pulled
Housewife loses RM147,753 after falling victim to part-time job scam

Others Also Read