Indonesia’s Tokopedia denies mass lay-offs, but ‘restructuring’ deepens tech winter fears

Reports of sweeping lay-offs at Tokopedia, the Indonesian e-commerce giant majority-owned by China’s ByteDance, have renewed concerns about Southeast Asia’s largest digital economy as analysts warn the country’s tech winter shows few signs of easing.The cuts have also raised questions over the future of one of Indonesia’s best-known home-grown digital champions, with analysts saying Tokopedia’s deeper integration into ByteDance’s ecosystem could shift more technology, product and strategic decisions outside the country.Tokopedia, which once aspired to be the Alibaba of Indonesia, cut more than 450 technology roles earlier this month, leaving just 35 such workers at the company, Indonesia" class="entity-link entity-organization" data-entity-id="161954" data-entity-type="organization">CNBC Indonesia reported on July 2, citing an unnamed company source.