Foodpanda confirms layoffs, talks to sell part of its Asia food delivery business

  • 📰 CNBC
  • ⏱ Reading Time:
  • 68 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 72%

Business News News

A German media outlet reported that Foodpanda could sell its operations in Singapore, Cambodia, Malaysia, Myanmar, Philippines, Thailand and Laos.

"While we already implemented some measures earlier this year, there is more we have to do to create the right set-up for our operations," said Angele.

Those measures include reviewing organizational structure across both regional and country teams as well as shifting some functional reporting lines into different leaders for more consistency and focus, said Angele.is in preliminary discussions with potential buyers to sell part of its Southeast Asian food delivery business, the Berlin-based company confirmed with CNBC on Friday.

"Delivery Hero confirms negotiations with several parties regarding a potential sale of its foodpanda business in selected Southeast Asia markets. Any discussions or plans are in their preliminary stages," the firm told CNBC in an email, without mentioning specific markets.could be a buyer. When CNBC reached out, Grab declined to comment on the matter.

"Grab's competitors whether Gojek or Foodpanda are losing market share. Grab is gaining market share in deliveries from Foodpanda who might even exit few markets in due course. Foodpanda is dis-advantaged due to its stand-alone delivery model," said Sachin Mittal, head of telecom, media and technology research at DBS Bank, in a Sept. 21 note.

in Southeast Asia's food delivery market, holding 54% of the region's gross merchandize value in 2022, while Foodpanda captured 19% and Gojek held 12%, according to a report from tech research firm Momentum Works.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: German investment in China eases in H1 after record highGerman direct investment in China eased in the first half of the year albeit remaining close to its record high in 2022 and increasing as a share of the country's overall investment abroad, according to official data analysed by the IW institute.
Source: Reuters - 🏆 2. / 97 Read more »

German Companies Defy Rising Pressure to Limit Exposure to ChinaCompanies with sizable Chinese operations in recent months have been scrambling to insulate those businesses from possible Western sanctions.
Source: WSJ - 🏆 98. / 63 Read more »

German Industry Defies Rising Pressure to Limit China ExposureCompanies with sizable Chinese operations in recent months have been scrambling to insulate those businesses from possible Western sanctions.
Source: WSJ - 🏆 98. / 63 Read more »