“No one can be sure how long this situation will last, but we are preparing for the long and difficult road ahead,” he wrote. “As our revenues continue to decline, senior Grab leaders have reduced salaries by up to 20 percent, and Grab employees have also been encouraged to take voluntary unpaid leave.”
A storm in a cup of bubble tea as Singapore’s circuit breaker extension extends into June
A storm in a cup of bubble tea as Singapore’s circuit breaker extension extends into June
In March last 12 months, it said it had 1,500 employees and planned to double its employment to three,000 by the top of this 12 months. They shall be accommodated in the brand new headquarters within the north, which was to be ready within the fourth quarter of this 12 months.
Grab’s announcement on Wednesday comes a couple of month after it said its senior executives would take pay cuts of as much as 20 percent to assist the corporate and its partners cope with the pandemic.
No community spread of Covid-19 in Singapore by end of March: study
No community spread of Covid-19 in Singapore by end of March: study
Singapore’s circuit breaker controls, which began on April 7, have resulted in most individuals staying at home and commuting just for essential activities.
As a result, transit ridership continues to say no by “double digits,” Chan said. This decimated the earnings of Grab drivers.
Grab declined to disclose the actual decline in passenger numbers.
To plug delivery slots and complement their income, taxi and personal hire automotive drivers were allowed to simply accept last month’s deliveries of groceries and food.
MORE HELP FOR DRIVERS
These include a discount in commission fees of no less than 50 percent until June 1.
However, Chan warned: “We may not give you the option to supply additional financial support if the circuit breaker is prolonged beyond June 1.”
Singapore layoffs to rise as economy faces ‘darkest 12 months since independence’
Singapore layoffs to rise as economy faces ‘darkest 12 months since independence’
To help its drivers survive the prolonged circuit breaker period, Grab will reduce its commission by 75 percent from May 4 to June 1 for brand new drivers renting vehicles from GrabRentals. Current tenants shall be completely exempt from commission until May 10.
All other Grab drivers will proceed to receive a 50-55% commission cut until June 1.
Grab takes a 20% commission on each ride made by its drivers.
Until May 31, the offer will even be available to drivers who made no less than 200 journeys between October and December last 12 months, as much as A$85 per week. This is along with government-funded support of A$10 per day per vehicle.
Covid-19 cases are rising in Singapore as not all migrant employees are being tested
Covid-19 cases are rising in Singapore as not all migrant employees are being tested
Chan said extending the support programs was not a simple decision because Grab’s business had been hit hard.
“It took us several days to confirm this information because we had to redirect some funds,” he told the corporate’s driver partners.
To fund this round of monetary assistance, Grab reallocated funds from other Grab driver and partner profit programs – akin to top-rated driver rewards, which had been suspended – and relied on voluntary donations from Grab employees, the quantity of which matched Grab’s -for- dollar.
Thanking her drivers who proceed to “keep Singapore moving and well fed”, Chan said: “It will take our collective will and efforts to defeat the virus and emerge from the crisis together.”
Read more at Today on the Internet.
