Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Administrative Services
Travel Agency, Tour Operator And Other Reservation Service And Related Activities
Travel Agency, Tour Operator And Other Reservation Service And Related Activities
79 - Travel agency, tour operator and other reservation service and related activities

1,200 jobs
Number of planned job losses
Job loss
Announcement Date
16 July 2003
Employment effect (start)
Foreseen end date

Description

Thomas Cook works across the travel value chain : airlines, hotels, tour operators, travel and incoming agencies. Due to the crisis in the travel sector (war in Irak, SARS crisis), Thomas Cook wishes to reduce its hotel capacity and is therefore planning to suppress 1200 jobs worldwide.


Sources

  • 16 July 2003: Financial Times Deutschland

Citation

Eurofound (2003), Thomas Cook AG, Internal restructuring in World, factsheet number 59640, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59640.