( Singapore, 16th June 2020 ) According to rumors, Grab, a Southeast Asian electric car giant, will announce the reduction of hundreds of employees due to corona virus disease.
"Reuters" quoted an internal report issued by Grab chief executive Mr. Chen that the company has announced a layoff plan involving 360 employees, accounting for about 5% of the employees. It is said that although the company is not facing capital problems, it will "cancel non-core projects, merge teams, and focus on execution efficiency." The Singapore-based startup has business in eight countries and a valuation of US$14 billion (approximately RM59.8 billion), making it the most valuable startup in Southeast Asia. The company's major shareholders include Japan's SoftBank (SoftBank) and so on.
Electric car companies lay off employees
Coronary disease has severely hit the electric car companies. In addition to Grab, Uber and Lyft in the United States and Ola in India have announced layoffs and measures to save.
**Info & Image are taken online
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