Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Navigation technology company TomTom is reducing its workforce by 457 employees. Close to half (255) of the jobs are forced redundancies, while the other jobs are trimmed by attrition. The company details that most jobs will be lost in its plants in the Netherlands, but it is known that in Belgium (Gent) 33 jobs will be lost.
Most of the layoffs will be in administrative and marketing positions. TomTom aims to carry-out the restructuring in a limited number of months.
TomTom is making face to a shift from dedicated personal navigation devices towards free navigation apps installed on smartphones. Consequently, the company is focusing more on business-to-business-solutions.
Eurofound (2011), Tom Tom, Internal restructuring in World, factsheet number 72822, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72822.
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