SINGAPORE - Food delivery company foodpanda has reportedly laid off 5 percent of its 1,200 staff in Singapore in a bid to remain competitive, just months after it launched its regional headquarters in Singapore.
This works out to be about 60 employees. In response to media queries, the company spokesman said that its German parent company - Delivery Hero - has a clear objective to become Ebitda-positive, which refers to the profitability of a company's core operations.
According to the report, its sources said foodpanda let go of 5 percent of its Singapore-based regional team last week. The company also reportedly announced that it will axe 150 staff, or 20 percent of its headcount, in the Philippines, in addition to job cuts in Thailand.
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