Holiday firm Thomas Cook to cut 195 stores

Grim news from Thomas Cook - 2,500 jobs going as part of restructure - some stores will close. Sources at Thomas Cook insist this is about changing the structure of the business to secure it for future, not the start of its decline: "We're trying to do it in one go."

They're cutting 195 stores from 1,069 - 2,500 staff going down to 13,000 from 15,500. Job cuts are not a massive surprise - £590m losses just before Christmas and new-ish boss making big changes.

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Thomas Cook to axe 2,500 jobs

Holiday firm Thomas Cook today announced plans to axe 2,500 UK jobs and warned of some store closures under a group-wide restructure.