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Thomas Cook Job Cuts

U.K. travel agent Thomas Cook plans to close down 195 retail travel agencies, which will result in the loss of approximately 2,500 jobs.

Thomas Cook - WHTV

Thomas Cook – WHTV

“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,” said Thomas Cook CEO Peter Fankhauser. He went on to say “Even after these changes, we will still have one of the largest retail networks in U.K. travel.”

Thomas Cook currently has 15,500 employees and these cuts would mean a 16% reduction in their workforce.