Food delivery firm foodpanda lays off 5% of S'pore staff to cut costs

A foodpanda 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. Hence, the "critical need" to reduce costs and make a profit to remain competitive.

- Cheryl Tan

Food delivery company foodpanda has reportedly laid off 5 per cent 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.

Hence, the "critical need" to reduce costs and make a profit to remain competitive, he added.