Thomas Cook to axe 100 jobs at its Peterborough office as it seeks to cut costs

Thomas Cook's offices at Westpoint.
Thomas Cook's offices at Westpoint.
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Holiday giant Thomas Cook is looking to axe up to 100 jobs at its offices in Peterborough.

Managers of the troubled travel operator, which employs about 1,100 people at its offices at Westpoint, in Lynch Wood, have started a 30 day consultation period with staff.

Peter Fankhauser, chief executive of Thomas Cook.

Peter Fankhauser, chief executive of Thomas Cook.

It is understood the redundancies are likely to impact staff across most departments.

The redundancy programme began about a month ago and is being rolled out across the business.

Staff from Peterborough Jobcentre have already offered support to Thomas Cook personnel whose jobs are put at risk.

The job cuts announcement follows a turbulent time for the 178-year-old company, which is looking to slash costs as it battles to return to profitability.

It has become the focus of intense speculation that it might soon be lined up for a takeover.

Thomas Cook’s Chief of Tour Operating, Will Waggott, said: "Following our retail announcement in March about the need to transform our UK business, we have proposed some changes that affect a number of roles based in our Peterborough office.

“These proposals are part of our ongoing programme to drive greater efficiencies across the business, putting a rigorous focus on cost to ensure Thomas Cook is fit for the future.

"They have not been taken lightly and we are doing all we can to support our colleagues who are impacted through the consultation process.”

Just three months ago, Thomas Cook announced it would cut 300 jobs nationally as it looked to reduce its number of stores by 21 to 566 outlets.

The tour operator says online booking accounted for 64 per cent of all its bookings in the UK last year.

Growth in online has been the fastest in all sales channels, rising by 30 per cent in 2018.

It issued two profits warnings last year, put its airline business up for sale and warned it may have breached its own borrowing limits.

Thomas Cook will be back in the spotlight on Thursday when it announces its half year results for 2019 which could indicate whether the company has gone any way towards winning in its fight to restore its fortunes.

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