Indonesian fintech company Ayoconnect laid off 10% of its workforce in early August 2023 as part of a strategic move to achieve profitability targets. The company, which operates in the financial technology industry, made this difficult decision to streamline operations and improve its financial sustainability. While the exact number of employees affected was not specified, the reduction impacted a significant portion of the team, reflecting the challenging economic environment faced by many tech startups striving for long-term viability.
