Ceasing the office based in Pune, India, GoTo plan to reinforce its financial business unit of GoTo Financial.
Heaptalk, Jakarta — PT GoTo Gojek Tokopedia Tbk (GoTo) is reportedly to close its office in Pune, India, this June.
This Decacorn company plans to relocate part of its online lending team based in its Pune office to Bangalore. Based on its management team, Indonesia’s GoTo Financial Group business unit engineers will take this Pune-based role. As a result, cited in Tech in Asia, this reorganization move will impact around 30 positions, adding to the last job cuts of 1,300 workforces in November 2022 and 600 employees in March 2023.
Intending to strengthen the financial business unit, the Head of Corporate Affairs of GoTo Financial, Audrey Petriny, recognized the consumer lending business unit plays a critical role in the business enhancement strategy of the company. In the early quarter of 2023, the company’s outstanding loan in the consumer lending business increased by 40%, or around US$56 million, approximately Rp831 billion, compared to the previous quarter.
On the other hand, GoTo Financial business unit also closed its gross income worth US$28 million (around Rp424 billion), with an increase of up to 25% YoY. Meanwhile, regarding the Gross Transaction Value (GTV), GoTo Financial business unit increased 18% YoY and reached US$6.1 billion (around Rp91.52 trillion).
“To maintain this growth momentum, we reorganized our organizational structure. By performing this action, we expect to retain more efficient business growth to continue growing scalable. We have endeavored to offer alternative positions for prevailing parties. But, unfortunately, the business restructuring consideration will impact 30 employees.” Audrey said, cited in Katadata.
To appreciate the impacted employees, the company emphasizes supporting the affected team beyond what is provided in the regulations, which is expected to help them go through the transition period better. However, Audrey did not specify the support that GoTo Financial grants.
“This determination is a focused move. Our presence in India remains important as the company’s primary engineering resource, ” Audrey concluded.
