In an attempt to stay on its recovery course (CI No 1,527), Telematics International Inc has announced 51 jobs losses across Europe and the United States, which is a 15% cut in its workforce. The cuts will be implemented across all sectors of the company, around ten jobs are to go in the UK, France and Germany and the rest at the company’s Fort Lauderdale, Florida. John Pitt, the company’s founder said the cuts were due to the awful economic situation across all geographic markets. The company reported a third quarter net loss of $576,000 against a profit last time of $779,000 – see p.5.
