Grab executives to take 20% pay cut

Voluntary employee donations will fund its partner relief initiatives.

The senior leaders of ride-hailing giant Grab will cut its salaries by up to 20% to help businesses and partners amidst the COVID-19 pandemic, according to a news release.

Voluntary employee donations will also fund Grab’s partner relief initiatives and will be matched dollar-by-dollar by the company.

The firm will also self-fund and partner with third parties for GrabFood’s marketing programmes for select merchants to help them generate more sales.

Grab has expanded its COVID-19 financial assistance scheme to Malaysia, Myanmar and the Philippines, which will pay out a sum to driver or delivery partners who are hospitalised or quarantined due to a virus diagnosis. Its daily essentials delivery service GrabMart and on-demand concierge service GrabAssistant will be expanded to other markets as well.