Up to 360 jobs could be axed at Thomas Cook's head office in Peterborough.
Two of the 19 people killed when a hot-air balloon caught fire in Egypt were customers of Peterborough-based travel agent Thomas Cook
Thomas Cook pledged the company would turn a corner as the its turnaround plan pushed it to an "unacceptable" loss of £590 million.
Holiday firm Thomas Cook, which is based in Peterborough, today announced plans to axe 2,500 UK jobs and warned of some store closures under a group-wide restructure.
The new boss of Thomas Cook pledged the company would turn a corner today as the travel giant's turnaround plan pushed it to an "unacceptable" loss of £590 million.
The UK's second-biggest travel company is based in Peterborough. It is counting the cost of restructuring as it reorganises its UK business, cuts its aircraft fleet and sells off hotels.
Peterborough-based Thomas Cook is asking shareholders to approve two sell-offs without which the holiday giant has warned it could collapse.
The tour operator, which appointed new chief executive Harriet Green on Thursday, needs investors to back the planned sale and leaseback of part of its aircraft fleet and the disposal of five Spanish hotels.
Failure to support the fundraising move could jeopardise the company's recent £1.4 billion deal with lenders to turn the business around.