Foodpanda’s Crunch‑Time: 5 % Off the FRUSTEBB of Its Singapore Staff
In a move that feels like trimming the really heavy veggies from a curry, Foodpanda announced that about 60 of its 1,200 Singapore‑based employees will be let go. That’s a nifty 5 % cut, and it comes just months after the company set up its regional HQ and global tech hub on Robinson Road.
Why the “Quick‑Trim”?
The company’s spokesperson said the push comes from its German parent, Delivery Hero, whose mission is to hit EBITDA‑positive status. That means the core business needs to be profitable – no more rainy‑day disclaimers.
- 2021 EBITDA losses: a staggering US$888.8 million (S$1.25 billion).
- This year’s Q2: adjusted breakeven reached – a neat milestone.
- Cost cuts: the company says “critical need” to lean on a leaner, meaner crew.
Headquarters and Hiring: A Tale of Two Contrasts
While giving a spiky “downsizing” a hard look, Foodpanda’s Singapore HQ is still on the hiring spree for marketing and media roles, plus fresh interns. Some say the hiring dance is a careful tap around the down‑hole you just cleared.
The company stresses it’s not just throwing out a paycheck with a peel of a goodbye. Employees who are leaving will receive employee assistance programs, extended insurance, and other support to keep their spirits high.
The spokesperson added, “To our impacted colleagues – we are very sorry, we will forever be grateful for your contributions and dedication to Foodpanda.”
Market Share Math: Grab vs. Foodpanda
Foodpanda holds 37 % of the Singapore food‑delivery market, with more than 10,000 deliveries performed this year. Grab, the competitor, dominates with over 50 %. Looks like Foodpanda is going to need a big upgrade to keep pace.
Bottom Line
In short, Foodpanda’s Singapore team trimmed back a small slice of hard‑wood, but the company isn’t stopping altogether. There’s still a flurry of openings, wiping ambition clean. And all the while, it’s working hard to keep the thrashing churn in the competitive food‑delivery arena.
