Grab to implement cost cuts, CEO memo shows

Grab's measures include a freeze on most hirings, salary freezes for senior managers and cuts in travel and expense budgets, according to the memo. — Bloomberg

SINGAPORE: Grab Holdings Ltd, South-East Asia’s biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic situation, the company’s chief executive tells staff in a memo.

The measures include a freeze on most hirings, salary freezes for senior managers and cuts in travel and expense budgets, according to the memo, whose contents were confirmed by a company spokesperson.