GoTo closed Pune office, terminated 30 employees due to strategic reorganization
Due to a strategic reorganization of its consumer lending team, GoTo Group has closed its office in Pune, India.
A portion of the lending team will move from Pune to Bangalore as part of the Indonesian tech giant’s relocation plans. According to a company spokesperson, GoTo Financial Group engineers in Indonesia will take over other positions that were previously based in Pune.
30 jobs will be eliminated as a result of the restructuring.
In addition to the 600 additional jobs lost in March of this year, GoTo also cut 1,300 jobs in November of 2022.
The company’s sustainability report for 2022 states that Gojek, Tokopedia, and GoTo Financial all have offices in India for technical support.
GoTo stated that it is still devoted to keeping an engineering presence in India. It further stated that it would assist the impacted employees in becoming prepared for upcoming opportunities.
The company’s outstanding loans increased by 40% from Q4 2022 to 831 billion rupiah ($55.8 million) in the first quarter of this year.
GoTo’s net loss was reduced by 41% year over year to 3.9 trillion rupiah (US$265 million) in the same quarter, and its adjusted EBITDA increased by 67% to US$109 million. By the end of 2023, the company hopes to become profitable.
