Feeds

TomTom axes 10% of workforce

Overhauls R&D groups

Intelligent flash storage arrays

Sat-nav maker TomTom is axing 10 per cent of the workforce and reorganising the R&D budget to speed up the time it takes to get products to market.

The move is part of a restructuring programme designed to slash costs by some €50m and counter a 23 per cent slowdown in consumer sales reported in Q3.

"We will reduce the number of full time jobs by 457, which accounts for approximately 10 per cent of the total workforce. 255 roles will be made redundant, half of which are in The Netherlands," said Tom Tom.

"The remainder will be achieved through attrition. A restructuring charge of €14m will be booked in Q4 2011 in relation to the redundancies and rationalisation of office space," it added.

The firm said R&D work will be spread across 10 product group: Maps Traffic, Navigation, Automotive Systems, PNDs, Fleetservices, Fitness, Mobile, POIs and Speedcams.

A larger proportion of R&D budgets will be allocated to higher growth areas including maps, traffic intelligence and navigation.

CEO Harold Goddijn said: "The new structure brings more transparency and accountability; makes it easier to make innovation choices and will reduce our time to market."

He claimed the speed of product introductions will be seen from next year.

Third quarter numbers showed a 10 per cent slide in sales to €336m, but the profits went up 50 per cent to €29m. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.