GoTo cuts 1,300 jobs as it anticipates ‘uncertainties’ to linger for long

The GoTo Group, Indonesia's largest internet company, is cutting 1,300 jobs, or 12% of its workforce, as it tries to improve finances.

"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, it also includes you, the people who are the core of this company."

He wrote that they had to part ways with some of you because of the organizational review. You are filled with a lot of emotions right now, pain, anger, sadness, and most of all, grief. I do the same thing.

Uncertainties will linger for a while, and there is not much that we can do to change that, as Soelistyo explained in the email Friday.

The move is part of GoTo's growing efforts to become a truly sustainable and financially independent business, centered on its core offerings of on-demand, e-commerce and financial technology services.

GoTo has been making steady progress in this area, underpinned by its strategic focus on high-quality cross- platform users, reduced incentive spending, and driving deeper synergies.

Since the beginning of the year, the company has been implementing a comprehensive end-to-end cost maximization exercise that involves aligning operating models, unifying processes, consolidating vendors, and renegotiating contracts. The spokesman said that by the end of the second quarter, structural cost savings had been achieved in areas such as technology, marketing and outsourcing.