Grab Cuts Jobs as Costs Mount

Grab Holdings is reducing its workforce by 11% or over 1,000 positions to lower expenses and stay competitive.
The layoffs are part of reorganizing operations and trimming costs to adapt to current business conditions according to the CEO.
Grab reported increased revenue but also greater losses for the first quarter of 2023.
The job cuts follow an earlier round of layoffs in 2020 due to the pandemic.
Grab provides ride-hailing and food delivery services in Southeast Asia.