Grab, the leading ride-hailing and food delivery app in Southeast Asia, announced that it will cut 1,000 jobs, which is about 11% of its workforce.
The company's CEO said that the cuts were necessary to bring down costs and ensure affordable services in the long term.
The job cuts are the biggest since the start of the coronavirus
pandemic, and the company's last round of job cuts was in 2020.
The announcement comes as other gig economy companies across the world have also cut jobs.
Grab offers services in eight Southeast Asian countries and took over the operations of US-based rival Uber in the region in 2018.