UK Business Transformation Update
06-Mar-2013 As part of its ongoing Busi ness Transformation, Thomas Cook Group plc today began a consultation process to restructure its UK busi ness.
Subject to that consultation, this process would see the Group's UK workforce reduced by 2500 full ‐time roles, mostly in back‐office functions and its retail network, including some store closures. The Group currentl y employs 15,500 across the UK & Ireland. The cost benefit of these changes, and the costs of achi evi ng them, have al ready been included in the cost‐out numbers previously announced.
Peter Fankhauser, CEO Continental Europe & UK, commented:
"It is never easy to make decisions that impact directly on our people, but we al so owe it to our customers to shape the busi ness effectively and ensure that, when they book their holiday with us, our administrative costs are as low as possi bl e. As we improve and develop our online capabilities, maintaining a strong presence on the High Street is an i mportant part of our omni‐channel strategy. Even after these changes we will still have one of the l argest retail networks in UK travel.
It is essential that we operate with the right number of people as we move forward into the next era for our company, allowing us to meet the future needs of our customers more effectively. These proposals will mean a stronger Thomas Cook that continues to be a major employer in the UK dedicated to providing excellent holiday experi ences to our 23 million customers. We are in consultation with our Unions and employee representative bodies to mi ni mi se the impact of these changes and I am speaki ng personally to al l employees today to provi de information and support through this peri od of consultation."