Business and Financial Review • Jan 22, 2009
Business and Financial Review
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Amsterdam, 22 January 2009 - TomTom (AEX: TOM2) today announced a reduction of its global workforce (excl. Tele Atlas) of 7% or 115 staff as part of a cost cutting programme aimed at aligning its cost structure to reflect to the current challenging consumer spending environment. Today's announcement does not affect Tele Atlas where reductions are already in progress which will lead to annualised savings of €35 million. Further details will be provided at the time of our fourth quarter 2008 results announcement on 24 February 2009.
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For questions please contact: Richard Piekaar Tel: +31 (0)20 757 5194
Email: ir(at)tomtom.com
TomTom NV (AEX: TOM2; ISIN: NL0000387058) is the world's leading provider of navigation solutions and digital maps. TomTom NV has over 3500 employees working in five business units – TomTom, Tele Atlas, Automotive, Mobile and WORK.
TomTom's products are developed with an emphasis on innovation, quality, ease of use, safety and value. TomTom's products include all-in-one navigation devices which enable customers to navigate right out of the box; these are the award-winning TomTom GO family, the TomTom XL and TomTom ONE ranges and the TomTom RIDER. Additionally, independent research proves that TomTom products have a significant positive effect on driving and road safety.
Tele Atlas delivers the digital maps and dynamic content that power some of the world's most essential navigation and location-based services (LBS). Through a combination of its own products and partnerships, Tele Atlas offers digital map coverage of more than 200 countries and territories worldwide.
The Automotive business unit develops and sells navigation systems and services to car manufacturers and OEMs. TomTom WORK combines industry leading communication and smart navigation technology with leading edge tracking and tracing expertise. The business unit Mobile focuses on developing and selling navigation solutions to network operators and handset manufacturers.
TomTom NV was founded in 1991 in Amsterdam and has offices in Europe, North America, Middle East, Africa and Asia Pacific. TomTom is listed at Euronext Amsterdam in The Netherlands. For more information, go to www.tomtom.com.
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