GoTo Plans to Cut Over 1,000 Jobs in Bid to Reach Profit
- Cuts set to amount to more than 10% of company’s workforce
- Internet company is curbing costs to bolster its finances
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Indonesia’s largest internet company GoTo Group is planning to cut more than 1,000 jobs as it seeks to trim costs and shore up its finances, according to people familiar with the matter.
The reduction, equal to more than 10% of the workforce, will affect all divisions, said the people, who asked not to be identified as the deliberations are private. Shares of the company rose as much as 9.6% in Jakarta, the biggest intraday gain in almost two months.