Grab Holdings Ltd is preparing its biggest round of layoffs since the pandemic, as the Internet company faces stiffening competition in ride-hailing and meal delivery across South-East Asia. The reductions are set to be announced as soon as this week and are likely to surpass a 2020 round that shrank staff by 5%, or about 360 employees, according to people familiar with the matter. The final number is under discussion and could fluctuate as conditions change. While Singapore-based Grab leads South-East Asia's ride-hailing and delivery markets, it has yet to reach profitability as it spends on growth and competition from rivals such as Indonesia's GoTo Group weighs on prices.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-06-20-story-h-267662277-Singapore_s_Grab_plans_biggest_round_of_job_cuts_since_pandemic

#i3investor