Jobs to go as Thomas Cook shrinks high street presence (From York Press)

Jobs to go as Thomas Cook shrinks high street presence

4:18pm Wednesday 6th March 2013 in Business news By Julie Hayes, Business editor

THOMAS Cook is to close 195 of its high street travel agencies, with the loss of 2,500 jobs.

Thomas Cook said the moves were being made as part of a restructuring and to slash administration costs.

The company recently shut 168 stores, including those in Acomb, Malton and Market Weighton. It will be left with 874 travel agencies across the UK and Northern Ireland.

Thomas Cook's recently appointed chief executive, Peter Fankhauser, said the proposals will help return the group to profitability after it recorded a £590 million loss in the last financial year.

He said: "As we improve and develop our online capabilities, maintaining a strong presence on the high street is an important part of our omni-channel strategy. Even after these changes we will still have one of the largest retail networks in UK travel."

Manuel Cortes, general secretary of the TSSA union, said: "This constant policy of slash and burn, with the axing of one in four stores and the loss of jobs, is simply self-defeating. The company needs new products if it is to come to terms with the age of the internet and prosper in the 21st century.

"That is the only way to stop this spiral of decline."

Thomas Cook has agencies at Nessgate, York; Market Cross, Selby; Westgate, Wetherby; High Street, Knaresborough and Wetherby Road, Cambridge Road and James Street, Harrogate. It has not yet confirmed which locations will be closed.