Tuesday, 16 Jun 2020 03:53 PM MYT
In a note to employees published online on Tuesday, Anthony Tan, the chief executive officer of the ride-hailing firm, warned that the company is headed for “what may be a long recovery”, but added that this would be the last organisation-wide layoff this year. In March, Grab said its senior leaders would take a pay cut of up to 20 per cent, while in April, as its revenues continued to fall, the next highest level of Grab leaders followed suit with a 20 per cent pay cut, while its employees were encouraged to take voluntary no-pay leave.
“We were able to save many jobs through this redeployment of resources and it helped to limit the scope of the reduction exercise to just under 5 per cent,” he said.