The company expects that the improvements in its mapmaking technology would result in material efficiency gains
TomTom is set to lay off hundreds of its employees. (Credit: TomTom International BV.)
Geolocation technology provider TomTom is set to lay off hundreds of its employees due to improvements in automating mapmaking process.
The Dutch digital navigation company is expected to cut 500 jobs, which accounts for to around a tenth of its global workforce.
According to TomTom, its investments have led to the creation of an advanced automated mapmaking platform that will bring a significant change in mapmaking activities.
In a statement, TomTom said: “Regrettably, this will have an intended impact on approximately 500 employees in our Maps unit.
“The full assessment of the financial implications of the reset of the Maps unit is ongoing. A further update will be provided during the publication of our results for the second quarter of 2022.”
The company expects that the improvements in its mapmaking technology would result in material efficiency gains.
The enhancements are also anticipated to strengthen its competitive position.
The company provides maps, data analytics, navigation, traffic information and other solutons to various industries.
TomTom CEO Harold Goddijn said: “Higher levels of automation and the integration of a variety of digital sources will result in fresher and richer maps, with wider coverage.
“These better maps will improve our product offerings and allow us to address a broader market, both in the Automotive and Enterprise businesses.”
In April this year, the company has partnered with expanded its partnership with Maxar Technologies to integrate high-resolution, global satellite imagery into its product portfolio.
Maxar is a provider of space solutions and secure, precise, geospatial intelligence.
As part of the partnership, TomTom will use Maxar’s Vivid base maps that offer virtually cloud-free, seamless imagery layers and updates.
The partnership is expected to equip TomTom with the capability to offer its clients a photorealistic map.