Foodpanda the food delivery platform that gained tremendous traction in the past 2 years has cut its staff force in Singapore in what it says is the critical need to cut costs and move to profitability to remain competitive.
According to news reports, the Singapore office has been told by parent company Delivery Hero is looking to be EBIDTA positive. While no indication was provided on the number of job cuts, news outlet DealStreetAsia reported that 5% of the Singapore base team were retrenched.
The site quoted that CEO, Jakob Sebastian Angele, addressed staff in July where he told them that the company is not doing well and should brace for upcoming cost-cutting measures.
Foodpanda had issued a statement that it is supporting impacted employees to help them through this transition, through an employee assistance programme and extended insurance and benefits.
The food delivery platform has an active presence in Malaysia with every other delivery rider belonging to the company, however, there have been no reports of retrenchment here as of yet.
