Indonesia Tech Firm GoTo to Cut 600 More Jobs - Statement

CORPORATE STRATEGIC - JAKARTA. Indonesia's biggest tech firm PT Goto Gojek Tokopedia announced on Friday another round of layoffs aimed at streamlining the organisation and boosting the company's profitability.

About 600 roles will be affected, the company said in a statement, following 1,300 jobs that were cut late last year.

"One such change is the consolidation of certain businesses and teams across the ecosystem, to create a more streamlined organization that is better equipped to respond to market demands," GoTo said, adding GoTo Financial's merchant business would be redesigned.

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The company has previously said the laysoffs are 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 its cost management measures.