2023-06-20 09:25:18 ET
- Grab Holdings ( NASDAQ: GRAB ) is said to be preparing its biggest round of layoffs since the pandemic. Grab rose 4.7% in premarket trading.
- The Singapore-based ride hailing and meal delivery company may announce the job reductions as soon as this week, and the cuts are likely to surpass a 2020 layoff round where 5% of employees were cut, according to a Bloomberg report , which cited people familiar with the matter.
- Grab ( GRAB ) shares dropped 15% on May 18 after GMV growth slowed in Q1.
For further details see:
Grab plans big round of layoffs - report