Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Travel agency Thomas Cook has announced plans to close 21 of its high street stores in a move which wll result in 320 job losses. 102 customer facing roles will be lost along with a further 218 roles which will be lost following a review of the company's retail workforce. The company cited the greater preference for online booking and the summer heatwave of 2018 which meant that many customers chose to holiday within the UK. The stores due for closure are ones which are not profitable and / or have their leases up for renewal. Consultation over the plans has reportedly already started with the trade unions, though there is no information as yet on when the job losses are expected to take effect.
Eurofound (2019), Thomas Cook, Closure in United Kingdom, factsheet number 97411, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97411.