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2,500 staff expected to go in TC/MyTravel shake-up
Around 2,500 job losses at Thomas Cook and MyTravel are expected to be announced tomorrow (Tuesday).
The merger of the two travel groups is also likely to result in the closure of MyTravel’s Rochdale head office in favour of Thomas Cook’s base in Peterborough.
The details, reported by the Daily Mail on Saturday, are “not a million miles from the truth”, company sources said.
The cuts come as part of plans to make cost savings of up to £100 million by bringing the two organisations together.
Thomas Cook will then announce interim financial results for the half-year to April 30 on Wednesday and provide an update on the integration process.
There are almost 19,000 UK employees – 9,125 with MyTravel and 9,843 at Thomas Cook.
It is not known at this stage what impact the staff reductions with have on MyTravel’s agency chain Going Places or Thomas Cook shops although branch closures are not being ruled out across the total UK retail network of 1,006 outlets (548 Thomas Cook and 458 Going Places).
Thomas Cook group joint CEO Manny Fontenla-Novoa has previously indicated that the bulk of staff cuts will come in aviation as the group seeks to reduce duplication of numbers across the combined business which employs 33,000 people worldwide.
The merged group has 45 aircraft operating from the UK (21 MyTravel and 24 Thomas Cook) out of a total fleet of 97.
Further industry jobs are forecast to go when TUI completes its merger with First Choice in the autumn.
by Phil Davies
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