Indonesian tech giant GoTo to lay off 1,300 employees amid ‘challenging global economic conditions’

GoTo. Photo: Video screengrab
GoTo. Photo: Video screengrab

While the world is fixated on the chaos at Elon Musk’s Twitter right now, Indonesia’s largest tech company GoTo says it has been forced into letting go some 12 percent of its full-time employees to shore up its finances.

The startup decacorn, which is a merged entity comprising ride-hailing app Gojek and e-commerce platform Tokopedia, said in a public statement today that the company is laying off 1,300 employees.

“In order to navigate further amid increasingly challenging global economic conditions, GoTo must focus on things beyond the company’s control. This includes taking the difficult decision to downsize staff by 1,300 people or around 12 percent of GoTo’s full-time employees,” the statement read.

“This difficult decision was unavoidable in order for the company to become more agile and able to sustain growth and provide positive impacts on millions of customers, partner drivers, and sellers.”

The downsizing will affect GoTo employees in its Indonesia, Singapore, Vietnam, and Thailand offices.

GoTo says affected employees will be entitled to compensation packages, including one month’s pay and a pay in lieu of notice. They will also be allowed to keep their work laptops, as well as gain access to career, financial, and psychological counseling until May 2023.

Indonesia has seen a massive tech boom in recent years, but mass layoffs have swept the sector this year as companies aim for profitability amid a challenging post-pandemic reality.

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