Layoffs may be GoTo's best bet to reduce costs and achieve profitability, say analysts

Layoffs may be GoTo's best bet to reduce costs and achieve profitability, say analysts

Photo: GoTo website

Downsizing seems to be the best way to rein in spiralling expenses at Indonesian tech giant GoTo, according to analysts that DealStreetAsia spoke with.

Multiple sources said the IDX-listed tech giant’s rising costs have prompted it to lay off as much as 10% of its staff. Bloomberg reported on Friday that GoTo will let go of 1,000 employees to trim costs and achieve profitability.

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