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Grab’s cost-cutting moves no surprise as firm strives towards profitability: Analysts
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Grab is rolling out cost-cutting measures to cope with an uncertain macroeconomic situation.
PHOTO: LIANHE ZAOBAO
SINGAPORE – The recent cost-cutting measures by Grab are not a surprise and will help the ride-hailing and food delivery giant move closer to its break-even target amid a challenging macroeconomic climate, analysts said.
The South-east Asian technology company, which is aiming to reach adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) break-even for the group in the second half of 2024, said last Thursday that it would be cutting costs amid rising prices and interest rates, which have impacted the company’s growth.
