TomTom latest to announce staff cuts
The latest job casualties in the consumer electronics industry come from TomTom, in a statement to the press issued from the company's Amsterdam headquarters.
The GPS manufacturer has announced a reduction of its global workforce by 7% or 115 staff as part of a "cost cutting programme aimed at aligning its cost structure to reflect the current challenging consumer spending environment".
As well as the TomTom jobs to go, TomTom-owned Tele Atlas will shed around 100 jobs as part of restructuring plans previously announced.
The news does not bode well for TomTom's fourth quarter 2008 results announcement due on 24 February 2009.