Grab cuts staff to cope with coronavirus impact

Southeast Asian ride-hailing and payments firm Grab said on Tuesday it would lay off more than 300 employees due to the impact of the novel coronavirus, in the latest setback to major backer SoftBank Group Corp.

Southeast Asia's most valuable startup with a valuation of US$14 billion (RM59.8 billion) informed staff of the cuts at a town-hall meeting, according to people with knowledge of the matter.