Thomas Cook, the travel firm, is to cut 2500 jobs, or over 15 per cent of its staff. Our reporter Cathy Adams:
The roles will mainly go from back office and its retail network, which will include some store closures.
UK and Europe chief executive Peter Fankhauser said the proposals would mean a “stronger Thomas Cook”.
“As we improve and develop our online capabilities, maintaining a strong presence on the high street is an important part of our omni-channel strategy. Even after these changes we will still have one of the largest retail networks in UK travel,” he added.
Sources at Thomas Cook insist this is about changing structure of biz to secure it for future, not start of decline...— Laura Kuenssberg (@ITVLauraK) March 6, 2013