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.
Administrative Services Travel Agency, Tour Operator And Other Reservation Service And Related Activities Travel Agency, Tour Operator And Other Reservation Service And Related Activities 79 - Travel agency, tour operator and other reservation service and related activities
660 - 1,000 jobs Number of planned job losses
Announcement Date
14 December 2011
Employment effect (start)
15 December 2011
Foreseen end date
31 December 2013
Description
Thomas Cook, a British travel company and tour operator, has announced that it is to close 200 stores with the loss of between 660 and 1000 jobs in the UK. This follows last year's job cuts when Thomas Cook had announced cuts of 500 jobs by the end of 2010 (see here).
The announcement follows a pre-tax loss of £398m.
The staff has already been informed whether their Thomas Cook branch will be affected by the redundancies.
Sources
14 December 2011: The Telegraph
14 December 2011: The Guardian
Citation
Eurofound (2011), Thomas Cook, Internal restructuring in United Kingdom, factsheet number 72867, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72867.
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