Oct 15 : Dutch digital mapping specialist TomTom NV said on Thursday it would cut 200 jobs globally as part of a reorganisation expected to generate annualised savings of about €21 million ($23.6 million).
The company, which has been investing lately in its new mapping platform, TomTom Orbis, is gradually shifting its focus towards partnerships to develop new driving solutions, working with Microsoft on generative AI and with Mitsubishi Electric on automated driving, among others.
"We see significant growth opportunities in automated driving and location intelligence, driven by AI," CEO Mike Schoofs said in a statement.
TomTom raised its 2026 operating margin guidance to around 4 per cent from 3 per cent previously, including the impact of a €15 million restructuring charge in the fourth quarter.
"It reflects our stronger performance year to date, as well as lower expected salary costs in Q4 resulting from the organizational realignment," the company said.
TomTom also narrowed its full-year revenue expectations to between €505 and €530 million from the €495 to €555 million previously expected.
It already cut 300 jobs in 2025 as part of an organizational realignment to embrace AI as part of its product-led strategy.
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