Restructuring events
European Restructuring Monitor (ERM)
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.
Travel agent Thomas Cook has announced plans to cut 100 jobs from its offices in Peterborough. The cuts follow the announcement earlier in 2019 that the company was closing a number of high street stores and cutting back on its retail sales team, in a bid to restore the business to profitability. These latest cuts are being seen as part of that wider drive to generate efficiencies within the business ahead of the next statement on finances. There is speculation that the company might be subject to a takeover. It is being reported that the statutory 30 day consultation period with affected staff is already underway, though it is not known when the job losses are expected to take effect.
Eurofound (2019), Thomas Cook, Internal restructuring in United Kingdom, factsheet number 97810, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97810.