GoTo Says TikTok Shop-Tokopedia Layoffs Won't Materially Affect Earnings
Jakarta. GoTo Gojek Tokopedia said reports of mass layoffs at TikTok Shop-Tokopedia are not expected to have a material financial impact on the Indonesian technology company, responding to a request for clarification from the Indonesia Stock Exchange following media reports.
In a stock exchange filing on Saturday, GoTo Director Simon Tak Leung Ho said the company, which owns a 24.99% stake in Tokopedia, respects any organizational changes undertaken by Tokopedia's management.
GoTo no longer consolidates Tokopedia's financial results after its ownership was diluted to 24.99% following the sale of a controlling stake to TikTok in January 2024. Instead, the investment is accounted for using the equity method, meaning any financial effect would be limited to GoTo's share of Tokopedia's profit or loss.
"Based on the company's estimates, the reported organizational adjustments at Tokopedia will not have a material impact on the company's share of Tokopedia's net profit or loss," Simon said.
GoTo reported its first-ever quarterly net profit of Rp 258 billion ($14.9 million) in the first quarter of 2026, bouncing back from a Rp 367 billion net loss in Q1 2025. This milestone was driven by strong growth in its financial services and a 26% increase in revenue to Rp 5.34 trillion.
He added that the restructuring would not affect the e-commerce service fees GoTo receives from Tokopedia and is not expected to have any material non-financial impact. GoTo also said it has no immediate plans to change its ownership stake in Tokopedia.
The clarification follows reports that TikTok Shop-Tokopedia is carrying out another round of layoffs as part of an organizational restructuring. CNBC Indonesia reported that more than 450 employees in the technology division had been laid off, while other local media cited claims that the latest cuts have reduced Tokopedia's workforce to about 10% of the roughly 2,500 employees it had when TikTok acquired control of the company from GoTo in January 2024.
TikTok did not confirm the scale of the job cuts but said it is restructuring its research and development organization to support long-term, sustainable growth.
"We are aligning our R&D organization around areas that will drive sustainable long-term growth for our business, our creator community and merchants on the platform," a TikTok spokesperson said.
The company acknowledged that the layoffs were a difficult decision and said it is providing support to affected employees during the transition.
TikTok also said it remains committed to investing in Tokopedia to improve the platform for users and merchants while continuing to support Indonesia's local businesses and broader e-commerce ecosystem.
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