Thomas Cook shuts 21 stores & slashes jobs to shift online

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Thomas Cook shuts 21 stores & slashes jobs to shift online

UK-based travel company Thomas Cook had been planning to trim more than 300 jobs and shut down 21 stores in their UK retail network, at a move to muzzle down the cost to focus more on online businesses, as consumers shopping online had been surging at a radical rate, Thomas Cook said in an announcement on Friday, the 22nd of March 2019.

Apart from that, the London-based travel company had also added that they had been considering a sale of its airlines business in order to raise raw cash for funding their online venture. Addressing to a growing number of shoppers booking online, Thomas Cook’s head of tour operator business, Will Waggott said, “Today’s announcement reflects the wider challenges seen on the high street, with more and more customers choosing to book online.

We will be working to ensure that Thomas Cook is fit for the future, putting a rigorous focus on costs in a competitive environment”. Considering the latest closure of 21 stores, Thomas Cook’s retail network would now have 566 shops, half the total it had during 2012.

Apart from the 102 jobs slashed at those 21 stores, further 218 jobs would be trimmed across their other shops, and, staffs and union consultations had already begun over the latest round of job cut, the company told on Friday (March 22nd).