Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As part of a global restructuring, Dutch car navigation systems company TomTom has announced that it will cut 51 jobs out of 260 at its offices in Ghent, Belgium. Job losses will be mostly targeted at the 'mapmaking' department, due to a new focus on automation of the design of maps. The job cuts were announced at a special works council meeting according to the Secretary of Liberal Trade Union (ACLVB). The Union's Secretary stated that TomTom has also referenced the weak car market due to pandemic induced supply chain shortages as a key factor in their global restructuring.
TomTom's global restructuring, cutting 500 jobs in 2022, has been recorded in the ERM Events database (TomTom-2022-WO).
Eurofound (2022), TomTom, Internal restructuring in Belgium, factsheet number 107975, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107975.