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Thomas Cook plc has announced it will keep Peterborough as the group’s divisional headquarters for the UK and Ireland in the face of a mass integration programme that will cost the firm up to 2,800 jobs.
The job losses, estimated at between 2,500 and 2,800, were announced as part of Thomas Cook’s proposed UK and Ireland location, retail and branding strategies, a key step in the integration of the former MyTravel and Thomas Cook businesses, which it hopes will achieve synergies of at least £95 million.
Under the proposals announced by the £8 billion leisure travel group, six of Thomas Cook’s UK sites will shut down while some 150 stores will also close, bringing the number down to a network of around 800 stores. Thomas Cook will be the main retail brand while Going Places will be retained in towns with more than one store.
Announced in February 2007 and finalised on 19 June, Thomas Cook Group plc is the result of the merger of Thomas Cook AG and MyTravel Group plc. The new company is one of the world’s leading leisure travel groups with sales of around £8bn, 19 million customers, around 33,000 employees, a fleet of 97 aircraft – operating under the brand of Thomas Cook Airlines – and a network of over 3,000 owned or franchised travel stores and a number of hotels and resort properties.
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