Indonesia’s GoTo tech company to cut another 600 jobs | – #Indonesias #GoTo #tech #company #cut #jobs
10 March (Reuters) – Indonesia’s biggest technology firm PT Goto Gojek Tokopedia ( GOTO.JK ) announced on Friday another round of layoffs aimed at streamlining the organization and boosting the company’s profitability.
Around 600 roles will be affected, the company said in a statement, following 1,300 job cuts at the end of last year.
“One such change is the consolidation of certain businesses and teams across the ecosystem to create a more streamlined organization better equipped to meet market demands,” GoTo said, adding that GoTo Financial’s trading business will be redesigned.
The company previously said the cuts were aimed at making the company more “agile” and maintaining growth amid challenging global economic conditions.
GoTo said last month that adjusted EBITDA is expected to turn positive in the last quarter of 2023 due to cost management measures.
Reporting by Stefanno Sulaiman, writing by Bernadette Christina Munthe; Edited by Kanupriya Kapoor
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2023-03-10 16:42:39
Source – reuters
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