Grab Restructures To “Thrive and Survive” In Reopening Economy

Grab Philippines country head, Grace Vera Cruz, said on Tuesday that the company needs to restructure the business to “thrive and survive” with the reopening of the economy and current challenges such as high inflation, fuel prices, and the volatile foreign exchange rate.

The transport network company recently announced an adjusted commission rate for GrabCar while there is zero commission for its delivery business. In response, Laban TNVS National President Jun de Leon urged the Land Transportation Franchising and Regulatory Board (LTFRB) to regulate the said adjustment.

Vera Cruz said that changes were “co-created” with its driver partners to guarantee sustainability for them in the years to come.

“Every solution we have, we co-create with our Grabcar drivers. It has been months and months of discussion to really come up with a solution that would benefit them in the next 2 years,” she added.

Grab Philippines also said that they had to increase fare rates due to the rise of fuel prices, influenced by Russia’s invasion of Ukraine.

“It’s not Grab that dictates the price increases, it’s the imports whose prices have increased over the last few years,” Vera Cruz said.

Source: ABS-CBN