GoTo Group’s CEO, Andre Soelistyo / Photo credit: GoTo Group
GoTo Group will carry out another round of job cuts that will affect around 600 positions, according to internal announcements reviewed by Tech in Asia.
Laid-off workers will receive an email later today inviting them to a session with their managers, CEO Andre Soelistyo wrote in an email.
The company will trim down certain parts of Mitra Tokopedia – its platform for small businesses (warungs) – as it moves away from non-core businesses to help accelerate growth, the email said.
GoTo is aiming to reach profitability on an adjusted EBITDA basis within the fourth quarter of 2023. In February, it unveiled a major restructuring plan across its executive team and commissioner board, which saw former Tokopedia CEO William Tanuwijaya become co-chairman of the group.
GoTo has also identified several teams that perform similar functions. As a result, it will merge multiple units under GoTo Financial’s merchant business into an integrated merchant services team.
This was confirmed by a separate email from a GoTo Financial executive, saying all merchant-facing products and solutions will be under one team. These include commerce enablement, merchant payments, and merchant lending.
In November 2022, GoTo slashed 1,300 jobs, which was around 12% of its workforce at that time.
Editing by Miguel Cordon and Eileen C. Ang
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