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Thomas Cook

Thomas Cook cuts 2,500 jobs as it restructures to focus on online operations

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By Jennifer Faull, Deputy Editor

March 6, 2013 | 1 min read

Thomas Cook has announced that 2,500 full-time jobs will be cut as a result of the closure of 195 of its high street travel agencies.

The cuts come as part of a £160 million money-saving plan as the company restructures to focus on creating an “omni-channel strategy”.

1,600 of the jobs being cut are from its high street operations, the rest of the losses will be administrative and will include redundancies from its marketing divisions, according to reports.

Peter Fankhauser, chief executive of the group’s European and UK business, 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 our administrative costs are as low as possible.”

Frankhauser added that even though bricks-and-mortar shops had effectively become a “shop window” for products, the 874 remaining shops would give it a “strong brand presence”.

He added: “We intend to stay on the high street. We are going to have a much better offer by linking online sales and offline.”

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