Ride-hailing firm Grab cutting 1,000 jobs as part of restructuring

Hundreds of jobs are on the chopping block at Grab Holdings as the ride-hailing and food delivery app operator restructures its business.

In a email to staff on June 20, CEO Anthony Tan announced that the Singapore-based company is laying off more than 1,000 employees — calling the decision a “painful but necessary step.”

“We must adapt to the environment in which we operate. Change has never been this fast,” Tan said.

“Technology such as Generative AI is evolving at breakneck speed. The cost of capital has gone up, directly impacting the competitive landscape.”

He added that the restructuring will allow Grab to “move faster, work smarter, and rebalance our resources across our portfolio in line with our longer term strategies.”

The latest round of job cuts is the company’s largest reduction since June 2020. Grab eliminated approximately 360 positions as it grappled with economic challenges created by the COVID-19 pandemic.

According to LinkedIn, the company employs a global workforce of more than 43,000 people. Over 20 workers are located in Canada.

📺 WATCH: Everything You Need to Know About Mass Terminations

Lost Your Job? Get Help Now

📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.

Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.

If you’ve lost your job at Grab for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.