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Indonesia's GoTo Posts Narrower Q3 Loss, Sees Further Improvement on Cost Cuts

Senin, 21 November 2022 | 18:28 WIB
Indonesia's GoTo Posts Narrower Q3 Loss, Sees Further Improvement on Cost Cuts

ILUSTRASI. PT GoTo Gojek Tokopedia Tbk (GOTO) said on Monday its quarterly underlying loss has narrowed

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - JAKARTA. Indonesia's biggest tech firm PT GoTo Gojek Tokopedia Tbk (GOTO) said on Monday its quarterly underlying loss has narrowed, and expected a further earnings improvement in the current quarter as it reins in spending to ride out a global economic slowdown.

The company, backed by SoftBank Group Corp (9984.T) and Alibaba Group (9988.HK), said last week it would lay off 1.300 employees, or 12% of its workforce, to step up cost-cutting, joining global tech firms retrenching after years of rapid hiring.

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