According to internal notifications examined by a reputable media outlet, GoTo Group will implement another wave of layoffs that will affect about 600 employees.
Employees who have been laid off will get an email later today asking them to a meeting with their supervisors, according to CEO Andre Soelistyo.
As it moves away from non-core businesses to support faster development, the company will scale down some portions of Mitra Tokopedia, its platform for small enterprises (warungs).
During the fourth quarter of 2023, GoTo hopes to become profitable on an adjusted EBITDA basis. In February, it launched a significant reorganization plan for its executive team and commissioner board, under which William Tanuwijaya, the former CEO of Tokopedia, was named co-chairman of the organization.
Other teams that carry out related tasks have also been recognized by GoTo. It will therefore combine various departments under GoTo Financial’s merchant business into a single merchant services team.
All merchant-facing products and solutions would be under one team, a GoTo Financial official confirmed in a subsequent email. They consist of commercial financing, merchant payments, and commerce enablement.
GoTo eliminated 1,300 positions in November 2022, which accounted for almost 12% of the total employment at the time.
