Grab Holdings, a multinational technology company headquartered in Singapore, is preparing another round of layoff, reported Bloomberg on Tuesday.
Citing people close to the matter, Bloomberg wrote that this will be the biggest round of job cuts since the pandemic in 2020 that saw the company cutting 5% of its workforce or about 360 employees due to the impact from the Covid-19 pandemic.
Bloomberg noted that the cut could be as soon as this week.
Last September, Grab stated that it had no plans for a mass layoffs despite a slowdown in the market. However, the CEO told staff in December that the company was holding off most hiring, pay rises for senior managers, and cutting travel and expense budgets.
The company had nearly 12,000 employees at the end of 2022. It operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand and Vietnam.