Gojek to announce layoffs this week
Gojek, is finalising a more than US$3 billion (S$4.18 billion) investment round at a US$10 billion valuation, joined by Facebook as well as previous investors Tencent and Google.
Widespread closures over the coronavirus pandemic have battered the ride-hailing industry, with firms cutting jobs globally.
Grab, Gojek’s rival in South-east Asia, announced last week it will cut about 360 jobs, or some 5 per cent of its headcount, after demand for its core ride-hailing services fell.
Grab is also limiting its performance-based commission rebate to 18,000 drivers and has dropped a series of incentive schemes for drivers, including monthly trip target bonuses and birthday rewards.
It had earlier cut the pay of its senior management by up to 20 per cent and encouraged staff to take voluntary no-pay leave as part of cost-cutting measures.