In today’s briefing:
- GoTo: Large Job Cuts to Improve Financials?
GoTo: Large Job Cuts to Improve Financials?
- Bloomberg reported on Friday that GoTo (GOTO IJ) is planning to cut more than 1k jobs across all its divisions to cutdown its costs and improve its financials.
- Though GoTo’s top line has continued to expand, the company continues to burn cash and the losses have further widened during the recent quarters.
- GoTo’s shares rose 11.7% during Friday’s trade, however, share price is still down by about 45% from the company’s IPO price.
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