Grab Holdings CEO Anthony Tan said in a memo to staff that the company is slashing 1,000 jobs, or 11% of its total headcount, Reuters’ Xinghui Kok reports. Tan said the layoffs were not “a shortcut to profitability” but a strategic reorganization to adapt to a rapidly changing business environment, the author says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on GRAB: