HONG KONG — Singapore ride-hailing firm Grab Holdings said it is cutting over 1,000 jobs or 11 percent of its workforce to cut costs and keep the company competitive, in its biggest round of job cuts since the pandemic. Grab CEO Anthony Tan said in a letter sent to employees late Tuesday that the job cuts were not a 'shortcut to profitability' but part of a fundamental restructuring of its operating model and costs. '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,' Tan said, describing the restructure as a 'painful but necessary step' for the longer term.

https://business.inquirer.net/406549/grab-slashes-1000-jobs-in-biggest-layoff-since-pandemic

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