Grab and Shopee are not the only companies dealing with layoffs: Foodpanda is also dealing with a new round of layoffs in its push to be “more efficient and even more agile” according to CNBC’s report. With a combination of decreased demand for food delivery services post-pandemic and increasing difficulties in managing businesses, Foodpanda parent company Delivery Hero is trying its best to stay afloat. One of the ways it is doing so is through a partial sale of its Foodpanda Southeast Asia food delivery business, which Delivery Hero has confirmed to several media outlets.

With this development, there might be a possibility that Foodpanda might leave the Philippines and Southeast Asia market if Delivery Hero pushes through with the partial sale. Back in 2022, Foodpanda Philippines changed its corporate name to Delivery Hero Philippines to reflect Foodpanda’s role as part of the Delivery Hero group.

While the partial sale is in its preliminary stages, German media outlet WirtschaftsWoche reported that Grab is one of the potential buyers of Foodpanda’s Southeast Asia business. Grab has declined to comment on the matter.

With the latest round of layoffs and plans to sell Foodpanda’s Southeast Asia business, it remains to be seen how the food delivery business in the Philippines will change should the partial sale push through. Grab and Foodpanda are the dominant players in the food delivery business in the Philippines, and the latest developments with the latter’s parent company should give opportunities for smaller players to be competitive.

We have reached out to Foodpanda Philippines for comments on this story.