TomTom to cut 200 jobs in reorganisation, targets €21 million in savings

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% from 3% 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.

($1 = ⁠0.8917 euros)

(Reporting ​by Mathias de Rozario in Gdansk; editing by Bartosz ​Dabrowski)

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