May 26 2013 Latest news:
Alistair Kleebauer, Senior reporter
Thursday, March 7, 2013
The Thomas Cook travel agents in Barkingside High Street is not one of 195 stores to close under restructuring plans.
The business announced cost-cutting measures yesterday to reduce its high street presence to 874 shops, but staff have been told their store is safe.
A number of stores do not meet the performance targets of the business, according to a spokesman.
Closures are believed to have been focused in areas with higher concentrations of stores.
Thomas Cook also proposes cutting 2,500 jobs, with posts at its head offices in Peterborough and Preston at risk and its Accrington office to close.
Peter Fankhauser, Thomas Cook UK & Ireland’s CEO, said: “As we improve and develop our online capabilities, maintaining a strong presence on the high street is an important part of our strategy.
“Even after these changes we will still have one of the largest retail networks in UK travel.”