https://techcrunch.com/2023/06/23/singapores-ride-hailing-firm-grab-lays-off-over-1100-employees/

On-demand startups in Asia raised hundreds of millions of dollars from investors over the last several years to scale and compete heavily in ride-sharing, alternative transport, delivery, and a supersized range of related and unrelated services. Now comes the reckoning. 

This week, Southeast Asian supper app ride-hailing and food delivery app operator Grab laid off more than a thousand people, or about 11% of its staff, its first big layoffs since 2020.