JAKARTA. GoTo Group is rumoured to cut off over 1,000 of its employees to reduce its operating expenses and fix its financial performance.
Based on the Bloomberg report, the number of employees that will be laid off is approximately 10% of total employees in GoTo Group. Furthermore, the source that claims to know about this plan said that this cutback will affect all divisions of GoTo Group.
The layoff is estimated to take place on November 21, 2022. This workforce reduction is said to be the aftermath of GoTo's loss that swelled even worse to IDR 4.14 trillion in the second quarter of this year.
According to the data curated by idnfinancials.com, GoTo Group still manages 9,630 permanent employees under its wing as of June 30, 2022. However, the company in question has yet to release any statement regarding any of these circulating rumours about the possible layoff. (KR/ZH)