Stock Market News
Mapmaker TomTom to cut 10% of jobs due to improved automation
2022.06.01 09:12
TomTom logo and camera are seen on a vehicle in Eindhoven, Netherlands, November 21, 2019. REUTERS/Eva Plevier/File Photo
(Reuters) – TomTom will shed around a tenth of its global workforce, the Dutch navigation and digital mapping company said on Wednesday, as it steps up its automated mapmaking capability.
“Regrettably, this will have an intended impact on approximately 500 employees in our Maps unit,” it said in a statement. “The full assessment of the financial implications of the reset of the Maps unit is ongoing.”
