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2025-12-03 13:17:03
[Digital Bank GXS Initiates Business Transition and Layoffs, Streamlining 10% of Positions] 1. GXS, a digital bank jointly backed by Southeast Asian tech giant Grab and Singtel, recently implemented a 10% reduction in its workforce across the group, affecting 82 positions. The layoffs cover GXS Bank in Singapore, GX Bank in Malaysia, and its technology center in India. 2. CEO Lai Pei Shi stated that this personnel adjustment is a necessary transitional measure for GXS as it moves from the early construction phase to a large-scale operation phase. She emphasized that the eliminated positions are based on an assessment of the company's overall strategy and are unrelated to individual employee performance. This adjustment aims to optimize the organizational structure to better adapt to the needs of the next phase of business development.
