TomTom to Cut 10% of Workforce, Restructure R&D
TomTom NV announced Thursday a plan to cut 10% of its global workforce (457 jobs, 255 of which are redundant) and reorganize its research and development program. R&D activities will be organized into 10 product units to improve ROI, and increase the control its salesforce has over what's being developed based on customer feedback, and speed time to market.
The company will take a EUR14 million charge in the fourth quarter, mainly related to the job cuts. The big loser for TomTom is the PND arena, which saw a 19% decline in sales on an annual basis in the third quarter.
- WSJ
by Adena Schutzberg on 12/08 at 04:44 AM |
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