Grab to implement cost cuts, cites uncertain macroeconomic situation: CEO

Grab Holdings Ltd, Southeast Asia’s biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic situation, the Singapore-based company’s chief executive told staff in a memo.

The measures include a freeze on most hirings, salary freezes for senior managers and cuts in travel and expense budgets, according to the memo, whose contents were confirmed by a company spokesperson.