TomTom will cut 500 jobs due to improvements in automating its mapmaking activities, the Dutch company said, adding that the cuts would amount to around 10% of its global workforce.
"Regrettably, this will have an intended impact on approximately 500 employees in our Maps unit," the company said in a statement.
ING analyst Marc Hesselink estimated that the cuts would hit relatively lower-paid workers.
"Over recent years TomTom has been working towards the holy grail of a fully automated map-making process," Hesselink said in a research note.
View Full Article