Manish Singh / TechCrunch:
Indonesia’s GoTo Group cuts 1,300 jobs, or ~12% of its workforce, to trim costs and improve finances — GoTo Group is cutting 1,300 jobs, or 12% of its workforce, it informed staff early Friday, as Indonesia’s largest internet company attempts to trim costs and improve finances.
Bloomberg:
Sources: Indonesia’s GoTo Group is planning to cut 1,000+ jobs, more than 10% of its workforce, and curb its costs — 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.
Manish Singh / TechCrunch:
Indian edtech startup Unacademy cuts 350 jobs, or 10% of its workforce, in its second round of layoffs this year after cutting 1,000 roles in April 2022 — Unacademy has eliminated 10% of its workforce, or about 350 roles, in its second round of layoffs this year as the Indian edtech warns of harsh economic conditions.
Bloomberg:
Indonesia-based PT Global Digital Niaga, which owns e-commerce group Blibli, raised ~$509M in Jakarta’s second-largest IPO in 2022, after GoTo’s $1.1B April IPO — PT Global Digital Niaga, the owner of Indonesia’s e-commerce group Blibli, ended its first day of trade unchanged …
Juro Osawa / The Information:
Sea Ltd., Southeast Asia’s largest internet firm by revenue and market value, has laid off 7,000+ employees, or ~10% of its staff, over the past six months — Sea Ltd., Southeast Asia’s largest internet company by revenue and market value, has laid off more than 7,000 employees …
Manish Singh / TechCrunch:
India’s Enforcement Directorate searched the offices of Paytm, Razorpay, and Cashfree on Friday as part of an investigation into fraudulent Chinese loan apps — India’s financial crime fighting agency searched the offices of fintech unicorns Paytm and Razorpay as well as Cashfree on Friday …
Wall Street Journal:
Sources: to cut costs by 10%+ in a few months, Meta is nudging out a significant number of staff by reorganizing and giving a window to apply for other roles — Facebook parent is looking to reduce costs by at least 10%, people familiar with the plans said, while Google has required some employees to apply for new jobs
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