(CNBC) Singapore-based Grab Holdings is cutting over 1,000 jobs, its CEO said Tuesday, in a bid to manage costs and reorganize the company in a competitive landscape. In an email to staff, CEO Anthony Tan said the layoffs are a “painful but necessary step” that the ride-hailing and food delivery app operator must take to remain competitive in the future. “The primary goal of this exercise is to strategically reorganize ourselves, so that we can move faster, work smarter, and rebalance our resources across our portfolio in line with our longer term strategies.”
Grab cuts 1,000 jobs, its biggest round of layoffs since the pandemic
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