May 22 2013 Latest news:
Alistair Kleebauer, Senior reporter
Wednesday, March 6, 2013
Employees at the Thomas Cook travel agents in Barkingside will be told today if their store is one of 195 to close.
The business today announced cost-cutting plans including reducing the number of its high street shops in the UK to 874.
A company spokesman said a number of stores do not meet the performance targets of the business, but no announcements on closures will be made until staff have been informed.
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: “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.”