Technology company cuts 10% of workforce

The technology company TomTom which makes navigation systems has said it will cut 10% of its workforce as part of its £43 million cost cutting drive.Technology company cuts 10% of workforce

The firm will cut 457 jobs, and it will take a £12.4 million euros charge in the fourth quarter.

The firm has been hit by slowing demand for its devices, which account for half of its total sales. It increasingly sells them built into car dashboards.

It also sells live traffic services for internet-connected devices and smartphone apps – an area where it has faced competition from the likes of Google.

TomTom said it will move its divisions into 10 product units, including maps, traffic, navigation, fitness, and personal navigation devices.

“The new structure brings more transparency and accountability and makes it easier to make innovation choices and will reduce our time to market,” said TomTom boss Harold Goddijn.

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December 20, 2011 · Home Based Jobs · One Comment
Tags: , , , , , , ,  · Posted in: Be Your Own Boss, Cost of commuting, Financial Wellbeing, Home Based Jobs, Home Businesses, Home Jobs, Home Working, How to save commuting costs, Redundancy, Risk of Redundancy, Uncategorized, Unemployment Rises

One Response

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