Softbank's ride-hailing and payments company Grab Holdings Inc. revealed on Tuesday it plans to sack several hundreds of its employees due to the coronavirus pandemic. Therefore, the Singaporean company will slash approximately 5% of its workforce, equivalent to 360 employees.
Commenting on the decision, Grab's Chief Executive Anthony Tan said that "since February, the company has seen the stark impact of COVID-19 on businesses globally. At the same time, it has become clear the pandemic will likely result in a prolonged recession so the company has to prepare for what may be a long recovery period."
