TomTom announced on Thursday 15 October that it will cut 200 jobs in a reorganisation meant to make it more focused, faster and easier to scale.
The company is now split into three divisions, Automated Driving, Location Intelligence and Navigation, with fewer management layers and decisions made closer to day-to-day work.
Chief executive Mike Schoofs sees strong growth prospects in automated driving and location intelligence, helped in part by AI, while navigation still brings in most of the revenue.
Revenue down in the third quarter
Group revenue fell 6% to €129 million in the third quarter, from €137 million a year earlier, and Location Technology revenue slipped 3% to €115 million.
Automotive operating revenue dropped 19% to €68 million.
The operating result was €6 million, a 5% margin, against €8 million and 6% a year earlier, and net cash stood at €239 million, down from €263 million at the end of 2025.
CFO Taco Titulaer said revenue met expectations and the margin beat them thanks to tight cost control, so TomTom is narrowing its 2026 revenue forecast and raising its margin outlook.
TomTom staff wondering where they stand can read our guide to how dismissal and redundancy work in Amsterdam.