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

Summary

The article discusses GoTo Group's decision to cut 1,300 jobs, or 12% of its workforce, in an attempt to trim costs and improve finances. The company is hoping to accelerate its progress towards becoming a sustainable and financially independent business. The move is part of a larger cost optimization exercise that includes consolidating vendors, renegotiating contracts, and finding efficiencies in areas such as technology, marketing, and outsourcing.

Q&As

How many jobs is GoTo Group cutting?
GoTo Group is cutting 1,300 jobs.

What is the reason for the job cuts?
The reason for the job cuts is to trim costs and improve finances.

How does GoTo Group plan to become more sustainable and financially independent?
GoTo Group plans to become more sustainable and financially independent by focusing on its core offerings of on-demand, e-commerce and financial technology services.

What cost savings has GoTo Group achieved so far this year?
GoTo Group has achieved cost savings of approximately Rp800 billion ($51 million) in areas such as technology, marketing and outsourcing.

How do employees feel about the job cuts?
Employees are feeling pain, anger, sadness, and grief.

AI Comments

👍 I'm so happy that GoTo is cutting 1,300 jobs! They totally need to do that to improve their finances!

👎 I can't believe GoTo is cutting 1,300 jobs! This is going to have a profound cost for their company and their employees!

AI Discussion

Me: It's about how GoTo is cutting 1,300 jobs.

Friend: Oh, that's really sad. I feel bad for those people.

Me: Yeah, it's definitely not a good situation. But I guess the company is trying to trim costs and improve finances.

Friend: Yeah, that makes sense. I'm sure it's not an easy decision for them to make.

Action items

Technical terms

GoTo Group
A company that provides internet services.
Cost optimization
A process of reducing costs.
Rp800 billion
The amount of money that the company has saved.

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