The results were thanks to robust demand and recovering driver supply in its transport arm, compounded with growth in its financial services segment (44 percent) and enterprise revenue driven by adverts (113 percent).The CFO said Grab has cut discretionary spending and direct marketing costs, and the company would continue to reduce spend on travel and office expansions.Indonesia's GoTo group, the result of a 2021 merger between Grab rival Gojek and e-commerce platform Tokopedia, said it would lay off 12 percent of its workforce, equating to around 1,300 employees in its Q3 2022 call.- Kakao CEO quits, South Korea hits emergency button after dire datacenter blaze- Indonesian web giants Gojek and Tokopedia merge to create Asian super-app- Asia's 'superapps' bundle ride-share, food delivery, even financial services – and they're beating big tech- Singaporean superapp Grab IPOs – badly – and promises to focus on maps and money"Global macro uncertainties driven by rising inflation, interest rates and fuel and energy prices, mean it is prudent to continue our focus on cost optimization across the business," reasoned GoTo CFO Jacky Lo."Throughout the third quarter, we reduced incentives, eliminated promotional spend on cohorts of unprofitable users, further reduced product marketing spend and continued to develop a program of structural cost savings," added Lo."