Mothership understands that Grab will be cutting 360 jobs amidst the economic uncertainty during Covid-19.

This is under 5 per cent of their global headcount.

According to The Straits Times, a townhall was held on June 16 where co-founder Anthony Tan announced the cuts.

In a note to employees earlier today, Grab CEO and Co-Founder Anthony Tan touched on the decision to embark on the measures.

"We understand this news will cause anxiety and dread. Please know that we did not come to this decision lightly. We tried everything possible to avoid this but had to accept that the difficult cuts we are making today are required, because millions depend on us for a living in this new normal."

Tan also assured that this will be the last organisation-wide layoff this year.

"I assure you that this will be the last organization-wide layoff this year and I am confident as we execute against our refreshed plans to meet our targets, we will not have to go through this painful exercise again in the foreseeable future."

Here is the severance package for those leaving Grab.

Tan said that Grab will now focus on adapting its core verticals such as ride-hailing, deliveries, payments and financial services.

Grab will also expand its support for small businesses by enriching its merchant service offerings.

You can read the full post here.

Earlier cuts

Senior leaders in Grab, including their co-founders, had earlier taken a 20 per cent cut as part of measures to deal with the Covid-19 impact.

Grab had encouraged employees to take voluntary no-pay leave, as transport ridership continues to plunge amid the ongoing Covid-19 circuit breaker.

In a letter sent to its drivers, which was shared with Mothership, the ride-hailing firm also warned that it may have to stop providing extra financial help if the circuit breaker is extended past June 1, 2020.

Image from Grab Blog