foodpanda cuts jobs in SEA to pursue profitability - People Matters
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The food delivery platform foodpanda confirmed it's laying off employees across Southeast Asia in a bid to reduce costs and move to profitability, in response to queries from People Matters
The Singapore-based foodpanda has let go of a number of its Southeast Asian employees as part of its efforts to move towards profitability.
With Delivery Hero’s clear objective to become EBITDA-positive, there is a "critical need now to reduce costs and move to profitability" to remain competitive, the company said in response to queries from People Matters.
Recently, foodpanda collaborated with digital investment platform Syfe to offer free financial workshops to all foodpanda delivery partners in Singapore.
This partnership is part of foodpanda’s efforts to invest in its delivery partners’ upskilling and growth.
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The meal delivery service, however, didn’t disclose the number of employees laid off.
The meal delivery company held a special event for its PandaPro subscribers last month to celebrate its tenth anniversary.
The layoffs happen as Delivery Hero, the German business that owns foodpanda, faces increasing pressure to turn a profit amid an uncertain economic climate.
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