Dutch Government blocks TomTom plan for jobs cull
Date: Thursday, March 22 @ 13:07:02 UTC
Topic:
The Dutch Government has blocked a plan by TomTom to axe 154 staff from its Dutch workforce.
The plan to axe 154 jobs, part of a wider plan for 457 posts to be culled, have been blocked despite Tomtom's claim that it would not be able to develop the company without the cash released by the job cuts.
TomTom is one of many victims of the rapid move from PNDs to smartphones as the weapon of choice for navigation. Although they are making strong headway in the growing automotive market, long lead times mean that their cash reserves and profit margins fell last year with a further drop expected this year.
Despite the ruling, the move will only affect 11 of the positions as 143 employees have accepted agreed termination packages.
Source TotalTele.com
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