JAKARTA: Goto, the largest Internet company in Indonesia, has cut its workforce by 1,300 people, or 12 percent, citing attempts to reduce expenses and strengthen financial position.
"Achieving financial independence more quickly has a profound cost for us because when we take a hard look at how we fundamentally need to change (business focus and ways of working), it also includes you, the people who are the backbone of this company, GoTo Group CEO Andre Soelistyo was quoted as saying.
"It pains me to mention that, as a result of our organisational review, we have to part ways with some of you. I am aware that you are filled with many emotions right now, pain, anger, sadness, and most of all, grief. I feel the same way," he said.
According to the report, a GoTo representative said the action is a part of the company's ongoing efforts to "accelerate its progress towards becoming a truly sustainable and financially independent corporation, focused on its core offers of on-demand, e-commerce, and financial technology services".
A GoTo spokesperson told that, "GoTo has been making consistent progress in this area supported by its strategic focus on high-quality cross-platform users, decreased incentive spending, and building deeper synergies throughout its ecosystem.
Along with the recent layoffs revealed by Twitter and Facebook owner Meta, other businesses like Netflix, Salesforce, Spotify, Tencent, and others have also recently cut off tens of thousands of jobs.
As Musk takes charge, Twitter's global market share grows by 55pc
"Will remove all legacy Blue badges in coming months": Elon Musk
Is Elon Musk about to declare bankruptcy?