Singapore based Grab to cut more costs amid economic chill


SINGAPORE, Dec 18 (Reuters): Grab Holdings, South-East Asia's biggest ride-hailing and food delivery firm, is cutting more costs to cope with an uncertain economic backdrop, the Singapore-based company's CEO told staff in a memo.

The measures include a freeze on most hiring, salary freezes for senior managers and cuts in travel and expense budgets, co-founder and CEO Anthony Tan said in the memo which was issued on Wednesday and viewed by Reuters.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Singapore , Grab , Cost Cutting Measures

Next In Aseanplus News

China launches crewed space flight as part of Moon ambitions
Thai beer heir sexual abuse allegations ignite rare public reckoning
Jungle raid: Cambodia military seize illegally felled timber in 4am forest operation
Nearly 15 years’ jail for Singapore man over death of woman, 19, who was tortured in Clementi flat
Bangladesh invites bids for oil and gas exploration
New Zealand tightens English standards, widens philanthropy options for visas
Stony-faced North Korean women’s team leaves South Korea after title win
Brunei Consumer Price Index rises 0.1 per cent in April
Toshifumi Suzuki, father of Japan's convenience stores, dies at 93
Two new treatment plants boost clean water supply in Vientiane

Others Also Read