Indonesia’s Tech Giant GoTo will slash 1,300 employees, 12% of workforce

GoTo Group, Indonesia’s largest internet giant, is the latest tech company to announce job cuts, laying off 1,300 employees, or around 12% of its total workforce.

GoTo is the merged entity of ride-hailing company Gojek and online marketplace Tokopedia, according to Reuters.

The company announced Friday “a reduction in staffing levels that will sadly affect 1,300 people or approximately 12% of employees, across the GoTo group.”

GoTo has joined other global technology firms, such as Apple Inc. and Meta Plaform Inc., in reducing staff or halting hiring in preparation for upcoming economic difficulties. Job cutbacks in the industry are nearing levels seen in the early stages of the Covid-19 outbreak as tech companies worldwide face a worsening economic outlook.

“Considering the challenging global macroeconomic conditions which have a significant impact on businesses around the world, the company, like other prudent companies, is making adjustments to ensure it can navigate the uncertain road that lies ahead,” the statement said.

Local and international media have previously reported that GoTo, which had its initial public offering on the Indonesia Stock Exchange in April 2022, was preparing to lay off 10% of its total staff due to economic concerns.