Thomas Cook is to axe 2,500 workers
Holiday firm Thomas Cook today announced plans to axe 2,500 UK jobs - hundreds of them at former Co-op Travel stores in the Midlands.
On the high street 195 stores are to be closed with the loss of 1,600 posts, while around 930 people will lose their jobs at offices nationwide.
The move is part of Thomas Cook's efforts to turn around the business after a string of poor results, including "unacceptable losses" of £590 million in November last year.
The company says it also reflects more customers using the internet and call centres to book their holidays, rather than high street shops.
The company, which employs 15,500 people and will still have 874 high street branches, said it was breaking the news to staff today.
No details have yet been revealed about which stores will close, but shopworkers union Usdaw said today it affected 119 former Co-op Travel and Midlands Co-op Travel stores merged into Thomas Cook in 2010.
Another 76 Thomas Cook stores are also set for closure, but it is not known if branches in the Wulfrun Centre and another in Church Street, Wednesfield are affected.
Usdaw national officer Sharon Ainsworth said today: "We were well aware of the challenges that Thomas Cook have been facing in turning their UK business around, but the scale and severity of these redundancies will come as a real shock to our members."
Thomas Cook has already sold off hotels and parts of its aircraft fleet as part of £100m cuts in its turnaround plan. It has also already closed 149 stores nationwide.
Europe and UK chief executive Peter Fankhauser said today: "It is never easy to make decisions that impact directly on our people, but we also owe it to our customers to shape the business effectively and ensure that, when they book their holiday with us, our administrative costs are as low as possible.
"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.
"It is essential that we operate with the right number of people as we move forward into the next era for our company, allowing us to meet the future needs of our customers more effectively.
"These proposals will mean a stronger Thomas Cook that continues to be a major employer in the UK dedicated to providing excellent holiday experiences to our 23 million customers.
"We are in consultation with our unions and employee representative bodies to minimise the impact of these changes and I am speaking personally to all employees today to provide information and support through this period of consultation."
Comments for: "Thomas Cook is to axe 2,500 workers"
steve
Sorry ...not suprised, very poor customer service
Frantic Friday
Got no sympathy for this company at all.This is the company that bought up thousands of London 2012 olympic games tickets and sold them for ridiculous prices £2000+ for one night in london, at an average hotel. Thanks Thomas Cook for ruining my Olympics...
Have no sympathy with this company after they bought up thousands of london 2012 olympic games tickets and sold them as a package deal for £2000+ for one night, you deserve all thats happening
Norma Phillips
I wonder how many people reading, or hearing about the job losses at Thomas Cook, do most of their holiday bookings on line.
What they, and the millions doing likewise, don't seem to get, is that their jobs might be deleted by the masses use of on-line.
The simple fact is, computers don't require paying. Thus, corporate has a vested interest in promoting the use of on-line.
Then, when the willing workforce outnumbers the amount of jobs available; and say fifty people apply for every job, those would-be workers will be willing to compete against each other to work for less than one and another.
In the Oxbridge section that the likes of Cameron joined, the PPE is the plan. Politics. Physcology. Ecomonics. The first, is to get power. The second, to brainwash the masses to do what, long term, is beneficial to you. And the third, have part of the PPE club be in the CITY.
I wrote a poem in 2004, and gave out copies to people, saying they'd know when, what I claimed would happen, has!
The last verse goes...So, when corporate controls the world and you finally find your voice
Bow down before your masters. Too late for tears. Truth is, you don't have any, bloody, choice.
Digital. I.T. The masses wanting more. What's that saying that's a warning? Be careful what you wish for.........