Grab asks staff to opt for no-pay leave, sabbaticals, reduce work hours

As the economic impact of the coronavirus pandemic and resulting restrictions bite, ride-hailing platform Grab is asking its employees across the region to take on flexible working arrangements such as no-pay leave, reduced working hours, and sabbaticals.

In March, Grab had announced that it will cut the salaries of its senior executives by up to 20%, for this year.

“We are taking proactive measures to manage our cost base to focus on capital efficiency,” a Grab spokesperson told DealStreetAsia.

The coronavirus pandemic has severely restricted business activity and movement in Southeast Asia, and the measures would allow Grab to “flexibly adjust up or down our resource needs,” the spokesperson said.

“There is a lot of uncertainty as to the depth and duration of the pandemic and we don’t know how long the economic recession will last and we are taking active steps to conserve cash and manage our employee base.”

The platform has also sent a note to its driver-partners, cautioning that it may have to stop providing additional financial support.

According to the note that was published in the media in Singapore, Grab Singapore’s Head of Transport Andrew Chan explained that the company’s revenues have continued to fall.

He cautioned that Grab may no longer be able to provide extra financial support to its drivers if the circuit breaker is further extended.

Chan reportedly said that there were expectations that normal activity would resume on May 4. The Circuit Breaker in Singapore, which requires most of the population to stay home and limit movement to within the neighbourhood, has been extended to June 1.

From April 6, Grab has waived or reduced commissions for drivers. Drivers who rent cars from the company can also opt to defer 20% of rental costs until October 2020.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.