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 And Tour Operator Activities 79.1 - Travel agency and tour operator activities
320 jobs Number of planned job losses
Announcement Date
22 March 2019
Employment effect (start)
Foreseen end date
Description
Travel agency Thomas Cook has announced plans to close 21 of its high street stores in a move which wll result in 320 job losses. 102 customer facing roles will be lost along with a further 218 roles which will be lost following a review of the company's retail workforce. The company cited the greater preference for online booking and the summer heatwave of 2018 which meant that many customers chose to holiday within the UK. The stores due for closure are ones which are not profitable and / or have their leases up for renewal. Consultation over the plans has reportedly already started with the trade unions, though there is no information as yet on when the job losses are expected to take effect.
Eurofound (2019), Thomas Cook, Internal restructuring in United Kingdom, factsheet number 97411, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97411.
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