TomTom Cuts 200 Jobs in Major Organizational Restructuring
TomTom is cutting approximately 200 jobs and reorganizing into three new divisions to save 21 million euros annually.
TomTom announced on Thursday that it will eliminate approximately 200 roles as part of a reorganization into three new divisions: Automated Driving, Location Intelligence, and Navigation. The company is reducing management layers to achieve annualized savings of about 21 million euros, though it expects a restructuring charge of 15 million euros in the fourth quarter.
Chief Executive Mike Schoofs stated that the changes will impact the workforce, while the company adjusted its 2026 revenue guidance to a range of 505 million to 530 million euros. Despite this trim, TomTom raised its operating margin forecast to approximately 4%.
Third-quarter results showed an operating profit of 6 million euros, which doubled analyst expectations. Chief Financial Officer Taco Titulaer reported that revenue was in line with expectations, although the consumer segment saw a decline caused by memory supply constraints and a contracting market for personal navigation devices.
